You are recently hired as the assistant to the CFO of Greenstone Inc., you must estimate its cost of common eguity. You have been provided with the following data: The dividends expected to be paid out next year (D1)=$1.65; Current price of the stock (P0)=$92; and the expected long-term growth rate (gLL)=3.60% which is expected to be constant. Based on the dividend growth model, which of the following is closest to the cost of common equity from reinvested earnings