Mavs Inc. wishes to determine its cost of common stock equity, rs. The market price, P0, of its common stock is $35.86 per share. The firm expects to pay a dividend, D1, of $4.20 at the end of the coming year, 2021. The dividends paid on the outstanding stock over the past 6 years (20152020) were as follows:

2015	$3.60
2016	3.65
2017	3.70
2018	3.85
2019	4.00
2020	4.10

What is the cost of common stock equity financing?