A stock has a Beta of 1.13. The risk-free rate is 3.2%, and the Market Risk Premium is estimated at 6.4%. The firm's cost of common equity, R E , is _____%. Do not round any intermediate work, but...

A stock has a Beta of 1.13.  The risk-free rate is 3.2%, and the Market Risk Premium is estimated at 6.4%.  The firm's cost of common equity, R_E, is _____%.

Do not round any intermediate work, but round yourfinal answer to 2 decimal places (example: enter 12.34 for 12.34%).  Do not enter the % sign.