Valuation $-$ Constant Dividend Growth model $($DGM$)$

Exhibit $10$ provides the stock price and dividend pald $($annual$)$ by PCP on March $31,2015.$ What is the estimate of the implied cost of equity based on the average of the high and low stock prices and the annual dividends reported on March $31,2015?$ Use the constant dividend growth model and assume a dividend growth rate of $4\mathrm{.}5\%$ per year.

A$.3\mathrm{.}557\%$

B$.4\mathrm{.}500\%$

C$.4\mathrm{.}557\%$

D$.4\mathrm{.}560\%$