$0\mathrm{.}6$

Suppose PepsiCo's stock has a beta of $1\mathrm{.}12.$ If the risk$-$free rate is $2\%$ and the expected return of the market portfolio is $12\%,$ what is PepsiCo's equity cost of capital?

PepsiCo's equity cost of capital is $\%.($Round to two decimal places.$)$