Starbucks just issued a dividend of $$3\mathrm{.}00$ per share on its common stock. The company is expected to maintain a constant $6\mathrm{.}2$ percent growth rate in its dividends indefinitely.

If the stock sells for $$60$ a share, what is the company's cost of equity? $($Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$