Stock in Daenerys Industries has a beta of 1.16. The market risk premium is 8 percent, and T-bills are currently yielding 3.5 percent. The company's most recent dividend was $1.6 per share, and dividends are expected to grow at a 7.5 percent annual rate indefinitely. If the stock sells for $36 per share, what is your best estimate of the company's cost of equity? Multiple Choice 10.7% 8.72% 12.28% 12.53% 127R