The DJH Corporation just paid a dividend of $ 1.66 . It expects its cash dividends to grow 4.7 % per year forever. DJH has a debt ratio of L = 34 %. Its borrowing rate is rd = 7.6 %. DJH pays corporate taxes at the rate of 47 %, rf = 5.5 %, rM = 11.5 %, and DJH's common stock is currently selling for $ 31 per share. What is DJH's expected cost of stock?