Company VL Inc. wants to figure out its WACC. It decides to use the CAPM to calculate its required cost of equity. It has a beta of 1.6, the current short term risk free rate is 3.4%, the current long term risk free is 5.4%, the average historical stock market return is 9.1% and the average of historical long term risk free rate is 5.5%. Without consider flotation cost, what is the required cost of equity for the company? Your answer should be shown as a percentage and it should be accurate to two decimal places. For example, if your answer is 1.2850000%, then enter 1.29. If your answer 1.284999999%, then enter 1.28