(Cost of common equity) The common stock for the Bestsoid Corporation sells for $58.27 a share. Last year the fim paid a $4.09 dividend, which is expected to continue to grow 4.9 percent per year into the indefinite future. If Bestsold's tax rate is 34 percent, what is the firm's cost of common equity? The firm's cost of common equity capital is 6. (Round to two decimal places.)