Stock in Country Road Industries has a beta of $1\mathrm{.}25.$ The market risk premium is $6\%,$ and T$-$bills are currently yielding $5\%.$ The company$$s most recent dividend was $$3$ per share, and dividends are expected to grow at a $7\%$ annual rate indefinitely. If the stock sells for $$45$ per share, what is your best estimate of the company$$s cost of equity? Make sure you use both the dividend growth model and the CAPM $($take the average$).$