Filer Manufacturing has 6,214,271 shares of common stock outstanding. The current share price is $47.54, and the book value per share is $4.47. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $75,154,169, has a 0.05 coupon, matures in 27 years and sells for 85 percent of par. The second issue has a face value of $52,319.521, has a 0.07 coupon, matures in 21 years, and sells for 82 percent of par. The most recent dividend was $2.01 and the dividend growth rate is 0.05 . Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 0.28 . What is Filer's cost of equity? Enter the answer with 4 decimals (e.g. 0.2345 )