Stock in Daenerys Industries has a beta of 1.5. The market risk premium is 9.5 percent and T-bills are currently yielding 2.5 percent. The company's most recent dividend was $2 per share, and dividends are expected to grow at a 7.5 percent annual rate indefinitely. If the stock sells for $32 per share, what is your best estimate of the company's cost of equity? Multiple Choice 15.48% 13.81% 14.22% 16.75% 13%