Filer Manufacturing has 8,260,092 shares of common stock outstanding. The current share price is $66.45, and the book value per share is $8.97. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $41,456,034, has a 0.09 coupon, matures in 15 years and sells for 100 percent of par. The second issue has a face value of $57,489,545, has a 0.06 coupon, matures in 16 years, and sells for 82 percent of par. The most recent dividend was $1.9 and the dividend growth rate is 0.04 . 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 0.34 . What is Filer's cost of equity? Enter the answer with 4 decimals (e.g. 0.2345)