Hank Corp.'s common stock currently sells for $55 per share. The most recent dividend (D0) was $2.25, and the expected growth rate in dividends per year is 7%. The cost of common equity, Re, is \%. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34% ), but do not round any intermediate work in the process. Margin of error for correct responses: +/.05(%)