Could you solve this problem please? I don't want an excel calculation. Thanks in advance.

The Talbot Corporation's common shareholders anticipate receiving a $2.20 per share dividend next year, based on the fact that they received $2 last year and expect dividends to grow 10 percent next year. Furthermore, analysts predict that dividends will continue to grow at a rate of 10 percent into the foreseeable future. If Talbot were to issue new common stock, the firm would incur a $7.50 per share cost to sell the new shares. Based on the most recent closing price for the firm's common stock, what would you estimate the cost of a common stock to be for the firm? What is the cost of a new common stock issue