You want to calculate the weighted average cost of capital. The dividend just paid is $$\frac{2\mathrm{.}30}{?}$ share. It is anticipated to grow at a rate of $7\%$ for the foreseable future.

What is the cost of equity if the current price of stock is $$43\mathrm{.}10$ a share?

$($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,12\mathrm{.}34.)$

Cost of equity

$\%$