stock in melfort manufacturing has a beta of . the return on the market is 12% and the risk-free rate (canadian t-bills) is 4. the company's most...

stock in melfort manufacturing has a beta of .58. the return on the market is 12% and the risk-free rate (canadian t-bills) is 4.75%. the company's most recent dividend was $2.50 per share, and dividends are expected to grow at a 3.5% annual rate indefinitely. if the stock sells for $59 per share, what is your best estimate of the company's cost of equity?