Easy Car Corp. is a grocery store located in the Southwest. It paid an annual dividend of $$$$2\mathrm{.}00$ last year to its shareholders and plans to increase the dividend annually at the rate of $3\mathrm{.}0\%.$ It currently has $1,000,000$ common shares outstanding. The shares currently sell for $$$$11$ each. The common stock beta is $1\mathrm{.}2.$ Easy Car Corp. also has $50,000$ semiannual bonds outstanding with a coupon rate of $8\%,$ a maturity of $22$years$,$ and a par value of $$$$1,000.$ The bonds currently have a yield to maturity$($YTM$)$ of $11\%.$ The risk$-$free rate is $3\%$ and the market risk premium is $6\%.$

What is the best estimate of the cost of equity for Easy Car Corp. if the corporate tax rate is $40\%?$