The required return (cost of capital) of levered equity is \%. (Round to one decimal place.)

HighGrowft Company has a stock price of 82b The firm will pay a dividend next year of $1.11, and its dividend is expected to grow at a rate of 4.2% per year thereafter What is your estimate of HighGrowth's cost of equity capital? The required return (cost of capital) of levered equity is (Round to one decimal place.)