Stock in Daenerys Industries has a beta of 1.09. The market risk premium is 8 percent, and T-bills are currently yielding 2.5 percent. The company's most recent dividend was $1.7 per share, and dividends are expected to grow at a 5.5 percent annual rate indefinitely. If the stock sells for $38 per share, what is your best estimate of the company's cost of equity? Multiple Choice 8.5% 10.22% 11.22% 10.72% 9.56%