Question: Summerdahl Resorts' common stock is currently trading at $36 a share. The stock is expected to pay a dividend of $3.00 a share at the end of the year ( D1=$3.00), and the dividend is expected to grow at a constant rate of 5% a year. What is the cost of common equity?

The answer is 13.33% however I keep getting 13.88% What am I doing wrong?

Here's my work:

Cost of equity = Dividends per share ($3.00) / Current Market Value of Stock ($36) + Growth Rate of Dividends (5%) =13.33%
Or
Cost of equity = Next Year’s Dividends per share ($36 + $3) / Current Market Value of Stock ($36) + Growth Rate of Dividends (5%) = 13.33%