The Pete Co. just issued a dividend of $3.25 per share on its common stock. The company is expected to grow dividends at a constant rate of 6.7 percent indefinitely. If the stock currently sells for $65 a share, what is the company's cost of equity? 11.09% 10.46% 10.88% 12.46% 12.04%

The Pete Co. just issued a dividend of $3.25 per share on its common stock. The company is expected to grow dividends at a constant rate of 6.7 percent indefinitely. If the stock currently sells for $65 a share, what is the company's cost of equity? 11.09% 10.46% 10.88% 12.46% 12.04% The Pete Co. just issued a dividend of $3.25 per share on its common stock. The company is expected to grow dividends at a constant rate of 6.7 percent indefinitely. If the stock currently sells for $65 a share, what is the company's cost of equity? 11.09% 10.46% 10.88% 12.46% 12.04%