Stock in Daenerys Industries has a beta of 1.29. The market risk premium is 8 percent, and T-bills are currently yielding 3.5 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 $33 per share, what is your best estimate of the company's cost of equity? Multiple Choice 11.27% 13.33% 13.82% 12.84% 9.31%