OSnapp Truckings just paid its annual dividend of $0.96 per share. Dividends have hit steady state and are expected to grow at 2.60% per year in perpetuity. The current stock price for OSnapp is $10.86 per share. Compute the cost of equity (retained earnings) for OSnapp. State in percentage terms without the percent sign symbol and round to the second decimal place. (Thus, 12.98756% would be written as 12.99 to be correct)