Stock in Country Road Industries has a beta of 0.94. The market risk premium is 9 percent, and T-bills are currently yielding 3 percent. The company's most recent dividend was $1.9 per share, and dividends are expected to grow at a 3.5 percent annual rate indefinitely. If the stock sells for $33 per share, what is your best estimate of the company's cost of equity? (Do not round your intermediate calculations.) Holdup Bank has an issue of preferred stock with a $8 stated dividend that just sold for $90 per share. What is the bank's cost of preferred stock