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Hudaverdi Ltd pay current dividends of $1.15 per share with these dividends expected to grow at a rate of 2.9% per year in perpetuity. Hudaverdi

Hudaverdi Ltd pay current dividends of $1.15 per share with these dividends expected to grow at a rate of 2.9% per year in perpetuity. Hudaverdi Ltd shares are currently trading at $8.01 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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