Stock in CDB Industries has a beta of $1\mathrm{.}1.$ The market risk premium is $7\mathrm{.}8\%,$ and T$-$bills are currently yileding $3\mathrm{.}5\%.$ CDB$\text{'}$s most recent dividend was $$2\mathrm{.}35$ per share, and dividends are expected to grow at an annual rate of $5$ percent indefinitely. If the stock selss for $$45$ per share, what is the best estimate of the company's cost of equity?