You need to estimate the cost of equity (Ke) for a firm, Hokie Enterprises. The firm is a mature firm with a stable dividend policy. The dividend just paid (yesterday) was $1.6 per share, and you expect the dividend growth rate to be 7.3% per year for a long long time. The stock currently sells for $12.1 per share. What is your estimate of the firms cost of equity? Answer in decimal form to four decimal places.