Caspian Sea has a beta of $1\mathrm{.}11.$ The market risk premium is $7\mathrm{.}56$ percent, and T$-$bills are currently yielding $3\mathrm{.}1$ percent. The most recent dividend was $$3\mathrm{.}04$ per share, and dividends are expected to grow at an annual rate of $2\mathrm{.}65$ percent, indefinitely. The company's cost of equity is $\_\_\_\_\_\_.$ Answer to two decimals. e$.$g$.0\mathrm{.}1234.$