Fleur Corp.'s common stock currently sells for $49 per share. The dividend one year from now is expected to be $3.1, and the expected growth rate in dividends per year is 8%. The cost of common...

Fleur Corp.'s common stock currently sells for $49 per share.  The dividend one year from now is expected to be $3.1, and the expected growth rate in dividends per year is 8%.  The cost of common equity, R_E, is ____%.

Do not round any intermediate work, but round yourfinal answer to 2 decimal places (example: enter 12.34 for 12.34%).  Do not enter the % sign.