Current Attempt in Progress

Sunland Wok Co$.$ is expected to pay a dividend of $$3\mathrm{.}0$ one year from today on its common shares. That dividend is expected to increase by $5$ percent every year thereafter. If the price of Sunland common stock is $$20\mathrm{.}00,$ what is the cost of its common equity capital? $($Round intermediate calculations to $2$ decimal places, e$.$g$.0\mathrm{.}15$ and final answer to $1$ decimal place, e$.$g$.15\mathrm{.}2\%.)$

Cost of common equity

$\%$