Stock in Country Road Industries has a beta of 1.24. The market risk premium is 7 percent, and T-bills are currently yielding 2.5 percent. The company's most recent dividend was $1.8 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.) Multiple Choice os 8.08% 10.16% 9.15% 11.18% 8.81%