Problem You are interested in knowing the cost of issuing equity. Some information about the equity you have issued: Stock Price: $44.90 a share. Dividend: just paid $3.10 per share. Growth rate of Dividend: 4% You expect the growth to continue at that rate indefinately, What is the company's cost of equity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.) Cost of equity %