The current stock price of XYZ Corp is $200 per share. It currently pays an annual per-share dividend of $5. A respected analyst assumes that the current growth rate of dividends will be 28% for the next 10 years, after which dividend growth will slow to 3.5% annually. Solve this two-stage Gordon model to compute the cost of equity.

		17.05%
		16.01%
		10.30%
		15.85%