TeachMeFinance has a beta of 1.21. The Treasury bill rate is 4.5 percent. The market risk premium is 8 percent. The company paid a $1.6 per share dividend a couple of days ago, and it is planning to increase its dividends at a 6.5 percent annual rate indefinitely. You also know that the company's shares of stock can now be purchased for $33 per share. Based on the above information, what is your best estimate of TeachMeFinance's cost of equity? (Do not round your intermediate calculations.)

TeachMeFinance has a beta of 1.21. The Treasury bill rate is 4.5 percent. The market risk premium is 8 percent. The company paid a $1.6 per share dividend a couple of days ag, and it is planning to increase its dividends at a 6.5 percent annual rate indefinitely. You also know that the company's shares of stock can now be purchased for $33 per share. Based on the above information, what is your best estimate of TeachMeFinance's cost of equity? (Do not round your intermediate calculations.) Multiple Choice 874% 11.66% 10.4% 12.92% 14.18%