Runtan Inc. has just paid an annual dividend of $0.45 per share. Analysts expect the firm's dividends to grow by 3% forever. Its stock price is $38.2 and its beta is 0.4. The risk-free rate is 2% and the expected return on the market portfolio is 8%. Part 1 8 Attempt 1/5 for 5 pts. What is the best guess for the cost of equity? (Need to use both SML and constant growth methods to estimate cost of equity) 4+ decimals