paid $$1\mathrm{.}85$ per share, and dividends are expected to grow at the same annual rate in the future as they did over the past five years.

a$.$ What is the estimated cost of common equity to the firm using the dividend growth model? percent, the market risk premium is estimated to be $4\mathrm{.}5$ percent, and Hetterbrand's beta is $0\mathrm{.}71.$ What is your estimate of the firm's cost of common equity using this method?

a$.$ The estimated cost of common equity to the firm using the dividend growth model is $\%.($Round to two decimal places.$)$