Two-stage rocket's common stock is expected to pay an annual dividend equal of $1.25, and it is commonly known that the firm expects dividends paid to increase by 8 percent for the next two years and

Two-stage rocket's common stock is expected to pay an annual dividend equal of $1.25, and it is commonly known that the firm expects dividends paid to increase by 8 percent for the next two years and by 2 percent thereafter. if the current price of two-stage's common shares is $17.80, then what is the cost of common equity capital for the firm?