An organization$$s dividend at the end of the year is expected to be $$4\mathrm{.}55$ a share. The organization$$s stock price is currently $$180\mathrm{.}31$ and the organization$$s dividends are expected to grow at a constant rate of $2\mathrm{.}7$ percent a year. The organization$$s cost of equity is

percent. Calculate to $2$ decimal places using the following formula:

Rs $=$ D$1/$ P$0+$ g