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The Say Hey! Co. just issued a dividend of $2.45 per share on its common stock. The company is expected to maintain a constant 6

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The Say Hey! Co. just issued a dividend of $2.45 per share on its common stock. The company is expected to maintain a constant 6 percent growth rate in its dividends indefinitely. The company's tax rate is 40%. If the stock sells for $45 a share, what is the company's cost of equity? Choose the range that includes the correct solution. Less than 10% O Greater than or equal to 10%, but less than 11% O Greater than or equal to 11%, but less than 12% O Greater than or equal to 12%, but less than 13% O Greater than or equal to 13%

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