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An analyst gathers the following information: The beta coefficient for OTX Ltd is 1

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An analyst gathers the following information:

The beta coefficient for OTX Ltd is 1.77. The company has just paid a $1.37 dividend per ordinary share. The dividend is expected to grow at 4% forever. The ordinary share of the company is currently traded in the market at $8.24 per share. The risk-free rate is 4.46%. Use only relevant information and applicable method to find the cost of OTX ordinary share. 

(Round the final answer to two decimal places. If your answer is 12.34%, write only 12.34; do NOT write 0.1234)