Market Risk Premium

Stock in Dragula Industries has a beta of 1.1. The market risk premium is 7 percent, and T-bills are currently yielding 4.5 percent. The company’s most recent dividend was $1.70 per share, and dividends are expected to grow at a 6 percent annual rate indefinitely.
If the stock sells for $39 per share, what is your best estimate of the company’s cost of equity? Please answer in a %. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))