The Tribiani Company just issued a dividend of $2.90 per share on Its common stock. The company is expected to maintain a constant 4.5 percent growth rate in its dividends indefinitely. If the stock...

Extracted text: The Tribiani Company just issued a dividend of $2.90 per share on Its common stock. The company is expected to maintain a constant 4.5 percent growth rate in its dividends indefinitely. If the stock sells for $56 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 5.66 X %