Stock in CBD industries has a beta of 1.10. The expected return on the market is 11.3% and the risk free rate is 3.5%. CDB's most recent dividend was $2.35 per share, and dividends are expected to grow at an annual rate of 5%. If the stock sells for $45 per share, what is your best estimate of the company's cost of equity capital? 13.25% 11.28% 19.56%