Question $18$

$7$ pts

Penguin Travels Ltd$.$ is a dividend paying company. Their last annual dividend was $$2\mathrm{.}80$ per share. Company has a stable dividend policy and increases dividends by $4\%$ every year. If the shares are trading at $$50$ per share, what is cost of equity for the company?

Hint: Input your answer showing $2$ decimals as for example $14\mathrm{.}25$ when the answer is $14\mathrm{.}25\%.$