A company has $710$ million shares trading at $$55$ per share and $$69$ billion in debt outstanding $($with a market value of $$65$ billion$),$ on which it incurred an interest expense of $$5$ billion in the most recent year. It also has $$4$ billion in preferred stock outstanding, trading at par, on which it paid a dividend of $$365$ million. The stock has a beta of $1\mathrm{.}20$ and is rated A $($which commands a spread of $1\mathrm{.}5\%$ over the treasury bond rate of $6\mathrm{.}25\%).$ The company faced a corporate tax rate of $40\%$ and the market risk premium is $5\mathrm{.}5\%.$

What is the cost of capital?

$\%7\mathrm{.}68$ ANSWER $!!!!$