Stock in CDB Industries has a beta of 1.07. The market risk premium is 72 percent, and T-bills are currently yielding 4.2 percent. CDB's most recent dividend was $3.10 per share, and dividends are expected to grow at a 5.2 percent annual rate indefinitely Required: If the stock sells for $53 por share, what is your best estimate of Ces cost of equity? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (0.9.. 32.16).) Cost of equity 11.35%