Assume that you have been hired as a consultant by Gustav Foods, a major producer of cat food, treats, toys and litter, to estimate the firm's weighted average cost of capital. They have provided you the following information:

Common stock currently sells for $$49\mathrm{.}00$ per share, the company expects to pay a dividend of $$2\mathrm{.}10,$ and its expected constant growth rate is $6\mathrm{.}00\%.$ The stock has a beta of $1\mathrm{.}10.$ The balance sheet shows that the company has $10$ million shares of stock.

Given that this is all the information you have, what is the cost of equity you will use in your calculations?