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Hudaverdi Ltd pay current dividends of $0.73 per share with these dividends expected to grow at a rate of 2.3% per year in perpetuity. Hudaverdi

Hudaverdi Ltd pay current dividends of $0.73 per share with these dividends expected to grow at a rate of 2.3% per year in perpetuity. Hudaverdi Ltd shares are currently trading at $4.40 per share. What is the cost of equity finance for Hudaverdi Ltd? Give your answer as a percentage per annum to 1 decimal place.

Cost of equity = _____% pa

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