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Business, 02.12.2020 17:00 ibidnnudny2584

Stock in CDB Industries has a beta of .97. The market risk premium is 7.2 percent, and T-bills are currently yielding 4.2 percent. The most recent dividend was $2.60 per share, and dividends are expected to grow at an annual rate of 5.2 percent indefinitely. If the stock sells for $48 per share, what is your best estimate of the company's cost of equity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.)

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