Last year the Black Water Inc paid dividends S4 78 Company's dividends are expected to grow at an annual rate of 2% forever the company's common stock is currently selling on the market for $76 46 The investments banker will charge flotation costs $2 01 per share Calculate the cost of common equity financing using Gordon Model Round the answers to two decimal places in percentage form (Writ* the percentage sign in the "unit's" box)