The Down and Out Co. Just issued a dividend of $2.46 per share on its common stock. The company is expected to maintain a constant 6 percent growth rate in its dividends indefinitely. If the stock sells for $40 a share, what is the company's cost of equity? (Do not round your intermediate calculations.) O 12.52% 13.14% O 12.15% 11.89% 0 6.67% Check my work 2020 McGraw-Hill Education. All rights