Suppose Wacken, Limited, just issued a dividend of $$1\mathrm{.}88$ per share on its common stock. The company paid dividends of $$1\mathrm{.}50,$ $$1\mathrm{.}62,$ $$1\mathrm{.}69,$ and $$1\mathrm{.}80$ per share in the last four years.

a$.$

If the stock currently sells for $$65,$ what is your best estimate of the company$$s cost of equity capital using the arithmetic average growth rate in dividends? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

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