Accessibility tab summary: Students please use the information below to complete the question completing the required cells. Given information for this question is presented in rows $6$ through $8.$ The required answer is in row $14.$

The Tribiani Co$.$ just issued a dividend of $$2\mathrm{.}90$per share on its common stock. The company is expected to maintain a constant$4\mathrm{.}5$ percent growth rate in its dividends indefinitely. If the stock sells for $$56$ a share,$$what is the company$$s cost of equity?

Input Area:

Dividend per share $$3$

Growth rate $4\mathrm{.}50\%$

Stock price $$56$

$($Use cells A$6$ to B$8$ from the given information to complete this question.$)$

Output Area:

Cost of equity $$

Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work.

Nothing in this area will be graded, but it will be submitted with your assignment.