Given the above data, what is the Kinston’s cost of equity ?

Kinston Industries is a listed company in New York. Its current before interest after-tax operating cash flows is $200 million. The cash flows are expected to grow at 8% per annum over the next four years, after which the growth will fall to 4% per annum and stay at this rate forever. The following information is also available: Tax rate Risk-free rate Market return Equity beta Cost of debt D/E 40% 5% 12% 2.5 20% 50%