The Down and Out Co$.$ just issued a dividend of $$0\mathrm{.}89$ per share on its common stock. The company is expected to maintain a constant $0\mathrm{.}03$ growth rate in its dividends indefinitely. If the stock sells for $$45\mathrm{.}8$ a share, what is the company's cost of equity? Enter the answer with $4$ decimals $($e$.$g$.0\mathrm{.}1234)$