Stock in Daenerys Industries has a beta of 0.92. The market risk premium is 9.5 percent, and T-bills are currently yielding 4 percent. The company's most recent dividend was $2 per share, and dividends are expected to grow at a 5 percent annual rate indefinitely. If the stock sells for $40 per share, what is your best estimate of the company's cost of equity? Multiple Choice 11.5% 9.85% 7 12.74% 10.25%