A firm wants to know its cost of equity. The firm just paid a dividend of $$3$ per share. The risk$-$free rate of interest is $4\mathrm{.}25$ percent, the market risk premium is $17$ percent, and the stock$$s beta is $0\mathrm{.}83.$ The firm$$s cost of equity is

percent. Calculate to $2$ decimal places using the following formula:

$=$ rf $+($b$($rm $$ rf$))$