Suppose Wacken, Limited just issued a dividend of $$2\mathrm{.}50$ per share on its common

stock. The company paid dividends of $$2\mathrm{.}00,$$$2\mathrm{.}07,$$$2\mathrm{.}24,$ and $$2\mathrm{.}34$ per share in

the last four years. If the stock currently sells for $$69,$ what is your best estimate of

the company's cost of equity capital using arithmetic and geometric growth rates?

Note: Do not round intermediate calculations and enter your answers as a percent

rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Answer is complete but not entirely correct.