For JNJ, what is the cost of equity using the CAPM approach? Round to nearest whole percentage.

Johnson and Johnson - For use with WACC Assessment Johnson \& Johnson (JNJ) NYSE - NYSE Delayed Price, Curency in USD 142.09 0.12(0.08%)142.25+0.16(0.11%) At close: June 21 4:00PM EDT Pre-Market: 8:47AM EDT Other Assumptions: 1. Market return for equities 11% 2. Risk free rate 3% 3. JNJ has a 10-year bond issue that is currently priced at 102. It was issued three years ago with a coupon rate of 2.45%. Use this bond's YTM as a pre-tax cost of long-term debt. JOHINSON \& JOHNSON AND SUBSIDIARIES CONSOL.IDATED BAL.ANCE SHEETS At December 30, 2018 and December 31, 2017 (Dollars in Millions Except Share and Per Share Amounts) (Note 1) JOHNSON \& JOHNSONAND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Exeept Per Share Amounts) (Note 1)*