You have gathered the following information about your firm: . . Current Stock Price (Common) ==> $37 Forecasted Dividend (D1) ==> $1.67 Beta ==> 1.7 YTM on Debt ==> 5.04% Coupon Rate on Debt ==> 9.69% Treasury Bond Yield ==> 4.11% Growth Rate on Dividends an> 4% Expected Return on the Market --> 10.97% Risk Premium for Stocks over Bonds --> 4.4% Based on this, estimate the cost of common stock financing based on the dividend valuation approach. Round to 2 decimal places in percentage terms