Delco Accents will pay an annual dividend of $5.94 a share next year with future dividends increasing by 2.20 percent annually. What is the stock's Cost of Equity if the stock is currently selling for $42.64 a share?
a. 15.58%
b. 16.13%
c. 11.16%
d. 9.89%
e. 17.14%