week /. homework 1 The Pierce Co. just Issued a dividend of $250 per share on Its common stock. The company Is expected to maintain a constant 5 percent growth rate In Its dividends Indefinitely. If the stock sells for $44.30 a share, what Is the company's cost of equity? 7 (Do not round Intermediate calculations and enter your answer as a percent rounded points to 2 decimal places, e.g_, 32.16.) Cost of equity =Book Hint Ack Print References