222 A firm has a capital structure of 100% equity. An analyst wants to estimate the current cost of capital for the firm. He has collected some financial data shown in the table below: FINANCIAL INSTRUMENT RETURN OR YIELD TO MATURITY 90-day Treasury Bill 0.70% S&P 500 Market Index 7.50% The beta for the firm is 1.31 The firm is considering a capital budgeting project that will create a cash flow next year of S511,507.00 The project cash flows will grow by 4.00% each year for a 11.00-year period, and the cost of the project is $3,118,611.00 today What is an estimate for the current cost of capital? Submit Answer format: Percentage Round to 2 decimal places (Example 9 24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex 0.0924))