The Tribiani Company just issued a dividend of $$2\mathrm{.}30$ per share on its common stock. The company is expected to maintain a constan $7$ percent growth rate in its dividends indefinitely. If the stock sells for $$43\mathrm{.}10$ a share, what is the company$$s cost of equity?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$