The last five annual dividends for BettsCorp have been: $1.23, $1.35, $1.49, $1.57, and $1.63. Next year's dividend is expected to be $2. The current stock price is $171 per share. First, calculate the geometric average annual rate of growth based on the historical dividends (taking into account the previous five -- do *not* include next year's expected dividend in this calculation). Your estimate of Re, the cost of equity, is %. Margin of error for correct responses: +/- .10%