Can someone help me with this but please provide an explanation im just not understanding this

2.6 is not correct

HighGrowth Company has a stock price of $20. The frmm will pay a dividend next year of $0.89, and its dividend is expected to grow at a rate of 44% thereatter. What is your estimate of HighGromthis cost of equity capital? The required retum (cost of capital) of lavered equity is (Round to one decimal place)