The Tribiani Company just issued a dividend of $$2\mathrm{.}65$ per share on its common stock. The company is expected to maintain a constant $5\mathrm{.}5$ percent growth rate in its dividends indefinitely. If the stock sells for $$53$ a share, what is the company's cost of equity? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$