The Drogon Company just issued a dividend of $$2\mathrm{.}61$ per share on its common stock. The company is expected to maintain a constant $4$ percent growth rate in its dividends indefinitely. If the stock sells for $$55$ a share, what is the company's cost of equity?

Multiple Choice

$9\mathrm{.}38\%$

$8\mathrm{.}75\%$

$5\mathrm{.}01\%$

$8\mathrm{.}49\%$

$8\mathrm{.}94\%$