Trojan Air has a beta of 1.5 and an ROE of 10.6%. The market risk premium is 8% and the current risk-free rate is 2%. Trojan's last dividend was $3 per share and is expected to grow at 7% indefinitely. The stock sells for $60 per share with a PE ratio of 11.6x. What is the cost of equity capital using the Security Market Line (SML)? 24%21%19%17%14% QUESTION 31 For US Treasury bills, notes and bonds from the 30 day to the 30 year, the yield curve for late April 2023 was lower than historical averages. was inverted. declines sharply from 525 to zero basis points. roughly equals the current prime rate. rises from nearly 400 to almost 600 basis points