Stock in Coalhurst Industries has a beta of $0\mathrm{.}95.$ The market risk premium is $7\%,$ and T$-$bills are currently yielding $3\mathrm{.}6\%.$ The company$$s most recent dividend was $$2\mathrm{.}05$ per share, and dividends are expected to grow at a $4\mathrm{.}1\%$ annual rate indefinitely. If the stock sells for $$39$ per share, what is your best estimate of the company$$s cost of equity?