show the calculations, not excel

2. Sally's Sailing Inc. stock has a beta of 1.40. The market risk premium is 7.5%, and T-bills are currently yielding 0.6%. The company's most recent dividend was $2.30 per share, and dividends are expected to grow at an annual rate of 3% indefinitely. If the stock is currently trading at $29.00 per share, what is your best estimate of the company's cost of equity