Cost of Equity: CAPM

Booher Book Stores has a beta of $1\mathrm{.}1.$ The yield on a $3-$month T$-$bill is $4\%$ and the yield on a $10-$year T$-$bond is $6\%.$ The market risk premium is $5\mathrm{.}5\%,$ and the return on an average stock in the market last year was $13\%.$ What is the estimated cost of common equity using the CAPM? Round your answer to two decimal places.

$\_\_\_\_\_\_\_\_\%[$Please provide correct answer and do not copy from other responses$]$