Easy Car Corp. is a grocery store located in the Southwest. It paid an annual dividend of $$$$2\mathrm{.}00$ last year to its shareholders and plans to increase the dividend annually at the rate of $3\mathrm{.}0\%.$ It currently has $2,000,000$ common shares outstanding. The shares currently sell for $$$$10$ each. The common stock beta is $1\mathrm{.}3.$ Easy Car Corp. also has $10,000$ semiannual bonds outstanding with a coupon rate of $6\%,$ a maturity of $22$years$,$ and a par value of $$$$1,000.$ The bonds currently have a yield to maturity$($YTM$)$ of $9\%.$ The risk$-$free rate is $1\%$ 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 $30\%?$

When answering this problem enter your answer using percentage notation but do not use the $\%$ symbol and use two decimals $($rounding$).$ For example, if your answer is $0\mathrm{.}10469$ then enter $10\mathrm{.}47$; if your answer is $10\%$ then enter $10\mathrm{.}00$