Stock in Daenerys Industries has a beta of 1.11. The market risk premium is 9.5 percent, and T-bills are currently yielding 3 percent. The company's most recent dividend was $1.8 per share, and dividends are expected to grow at a 7 percent annual rate indefinitely. If the stock sells for $35 per share, what is your best estimate of the company's cost of equity? Multiple Choice 13.54% 13.02% 11.56% 12.5% 10.22%