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Problem 14-1 Calculating Cost of Equity [LO1] The Tribiani Company just issued a...

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Finance

Problem 14-1 Calculating Cost of Equity [LO1]
The Tribiani Company just issued a dividend of $3.00 per share on its common stock.
The company is expected to maintain a constant 6.2 percent growth rate in its dividends
indefinitely. If the stock sells for $60 a share, what is 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.)
Cost of equity
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