The Designer Handbag Emporium pays annual dividends and has a current stock price of $$26$ a share. You observe that the recent dividends have been $$0\mathrm{.}65,$ $$0\mathrm{.}70,$$$0\mathrm{.}72,$ and $$0\mathrm{.}75$ per share over the last four years, respectively. Given the average growth rate in these dividends, what is this firm's cost of equity? Assume the next dividend will be paid in one year.