Runtan Inc. has just paid an annual dividend of $0.45 per share. Analysts expect the firm's dividends to grow by 6% forever. Its stock price is $35 and its beta is 1.8. The risk-free rate is 2% and the expected return on the market portfolio is 8%. Part 1 Attempt 2/3 for 9 pts. What is the best guess for the cost of equity