Stock in the Harris Hamburger Company has a beta of 1.58. The market risk premium is 6.5% and the risk-free rate (Canadian T-bills) is 5.25%. The company's upcoming dividend is expected to be $2.25 per share, and dividends are expected to grow at a 5.75% annual rate indefinitely. If the stock sells for $29 per share, what is your best estimate of the company's cost of equity?