The common stock for Greenland Financials currently sells for $53 per share. The firms lastdividend was $8, and its dividends are anticipated to grow at the rate 5% as they did over the past. Calculate the companys cost of internal common equity.

Round your answer to the nearest "0.01%". Enter your answer as a percentage. For example, if your answer is "5.28%", enter "5.28".