Suppose Stark Ltd$.$ just issued a dividend of $$1\mathrm{.}96$ per share on its common stock. The company paid dividends of $$1\mathrm{.}60,$$$1\mathrm{.}70,$$$1\mathrm{.}77,$ and $$1\mathrm{.}88$ per share in the last four years.

If the stock currently sells for $$70,$ what is your best estimate of the company's cost of equity capital using the arithmetic average growth rate in dividends? $($Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Cost of equity

$\%$

What if you use the geometric average growth rate? $($Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Cost of equity $$