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X P14-7 (similar to) Question Help (Related to Checkpoint 14.2) (Cost of common equity) Salte Corporation is issuing new common stock at a market price

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X P14-7 (similar to) Question Help (Related to Checkpoint 14.2) (Cost of common equity) Salte Corporation is issuing new common stock at a market price of $27.18. Dividends last year were $1.42 and are expected to grow at an annual rate of 5.4 percent forever. What is Salte's cost of common equity? The company's cost of common equity is %. (Round to two decimal places.)

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