Southern Home Cooking just paid its annual dividend of $1 a share. The stock has a market price of $20 which is expected to grow at 5 percent. The return on the U.S. Treasury bill is 3.2 percent and the market risk premium is 7.5 percent. What is the cost of equity? Group of answer choices 9.50 percent 10.75 percent 11.80 percent 12.50 percent 10.25 percent