Rossdale Company stock currently sells for $72.65 per share and has a beta of 1.21. The market return is 7.20 percent and the risk-free rate is 2.94 percent annually. The company will pay a dividend of $4.25 per share next year, which it has pledged to increase at an annual rate of 3.55 percent indefinitely. What is your best estimate of the company's cost of equity? 8.10% 11.65% 10.63% 9.61% 8.75% 9.40%