Big Dawg Incorporated is trying to estimate its cost of equity capital. The firm believes its beta is $0\mathrm{.}90.$ The current risk free rate in the economy is $1\mathrm{.}93\%,$ while the market portfolio risk premium is $6\mathrm{.}00\%.$ What is an estimate for the equity cost of capital?

Answer format: Percentage Round to: $2$ decimal places