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A new business wants to caculate the cost of funding their company. Their stock currently...

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Finance

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A new business wants to caculate the cost of funding their company. Their stock currently trades at $60 per share. They have other information that they think will help them understand the cost of this equity. The most recent dividend was $3.80 per share, and dividends are expected to grow at an annual rate of 5.4% indefinitely. What is the cost of equity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.) Cost of equity What formula did you use to calculate the cost of equity

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