The muggle investment committee at Gringott bank is evaluating the stock of several companies to add to their portfolio. The common stock of one of the companies is currently priced at $86.81 a share. The company has just paid $3.21 per share as its annual dividend. The dividends have been increasing by 10% percent annually and are expected continue doing the same. What is this firm's cost of equity? (Answer as a percentage and round to 2 decimals.) Select one: a. 11.04% b. 16.38% O c. 17.45% d. 6.99 % e. 14.07%