$($Cost of common$$ equity$)$The common stock for$$ Oxford, Inc. is currently selling for $ $22\mathrm{.}95,$ and the firm paid a dividend last year of $$$$1\mathrm{.}87.$ The dividends and earnings per share are projected to have an annual growth rate of $3\mathrm{.}5$ percent into the foreseeable future. What is the cost of common equity for$$ Oxford?