Smathers Corp. stock has a beta of .92. The market risk premium is 7.50 percent and the risk-free rate is 3.15 percent annually. What is the company's cost of equity?

Storico co. just paid a dividend of $3.15 per share. the company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. if the required return on the company’s stock is 12 percent, what will a share of stock sell for today?