The equity beta for Harley$-$Davidson $($HOG$)$ is $2\mathrm{.}3..$ The yield on $10-$year treasuries is $2\mathrm{.}0\%,$ and you estimate the market risk premium to be $4\mathrm{.}5\%.$ Further, HOG issues an annual dividend of $$0\mathrm{.}40$ Its current stock price is $$23\mathrm{.}76,$ and you expect dividends to increase at a constant rate of $6\mathrm{.}0\%$ per year. Estimate HOG's cost of equity in two ways.