The earnings, dividends, and stock price of ABC Inc. are expected to grow at 5% per year in the future. ABC's common stock sells for $34 per share, its last dividend was $3.00 per share, its beta is 1.4, the risk-free rate is 4%, and the expected return on the market is 11.5%. What is the firm's cost of equity based on the CAPM approach? 14.50% 15.56% 14.26% O 15.40%