2 pts Firm ABC's stock has an equity beta of 1.4. The company just paid a dividend of $ 2.3 and the dividends are expected to grow ar 5% per year The expected market risk premium is 6.8% and risk free rate is 4.5% The current stock price for the company is $60 Calculate the cost of equity in terms of percent using the DDM (dividend discount model) method (Format your answer into percent and round to two decimals, for example: 12.30)