Stock in Daenerys Industries has a beta of $1\mathrm{.}66.$ The market risk premium is $8$ percent, and T$-$bills are currently yielding $2\mathrm{.}5$ percent. The company's most recent dividend was $$2$ per share, and dividends are expected to grow at a $7\mathrm{.}5$ percent annual rate indefinitely. If the stock sells for $$37$ per share, what is your best estimate of the company's cost of equity?