The Cost of Equity and the cost of debt.

Your chief operating officer argues the following:

a. Our stock price is currently $60, and our dividend per share is $6. it means that it cost us 10 percent to use shareholders cash ($6 divided by $60)

b. "From our balance sheet our liabilities are $80 million. From our income statement our interest expenses are $5 million. Thus our cost of debt is 6.25 percent ($5 million divided by $80 million)."

Which Statement is True and which is false?