The cost of equity using the discounted cash flow $($or dividend growth$)$ approach

Grant Enterprises$$s stock is currently selling for $$25\mathrm{.}67$ per share, and the firm expects its per$-$share dividend to be $$1\mathrm{.}38$ in one year. Analysts project the firm$$s growth rate to be constant at $7\mathrm{.}27\%.$ Estimating the cost of equity using the discounted cash flow $($or dividend growth$)$ approach, what is Grant$$s cost of internal equity?

$12\mathrm{.}65\%$

$13\mathrm{.}28\%$

$17\mathrm{.}08\%$

$15\mathrm{.}81\%$