Suppose Wacken, Limited, just issued a dividend of $2.73 per share on its common stock. The company paid dividends of $2.31,$2.39,$2.48, and $2.58 per share in the last four years, respectively. If the stock currently sells for $43, what is your best estimate of the company's cost of equity capital using arithmetic and geometric growth rates in dividends? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16