Suppose Hornsby Ltd. just issued a dividend of $2.52 per share on its common stock. The company paid dividends of $2.02, $2.09, $2.26, and $2.36 per share in the last four years. If the stock currently sells for $71, what is your best estimate of the companys cost of equity capital using arithmetic and geometric growth rates? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

]Arithmetic dividend growth rate %? Geometric dividend growth rate %?