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Cost of Equity: Dividend Growth problem Please help Step by Step Please! Summerdahl Resort's common stock is currently trading at $ 3 9 a share.

Cost of Equity: Dividend Growth problem Please help Step by Step Please!
Summerdahl Resort's common stock is currently trading at $39 a share. The stock is expected to pay a dividend of $3.00 a share at the end of the year (D1= $3.00), and the dividend is expected to grow at a constant rate of 8% a year. What is the cost of common equity? Round your answer to two decimal places.
what is the%?

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