Good Morning!

What formula to use to obtain the cost of capital and how is it set up? See the question below. The book and tutorials give multiple steps but the one formula is showing WACC= Debt*Outstanding Bonds*(1-tax rate) + Equity*Cost of Equity Capital. The question is to solve for the cost of equity capital.

David Ortiz Motors has a target capital structure of 12% debt and 88% equity. The yield to maturity on the companys outstanding bonds is 3.7%, and the companys tax rate is 23%. Ortizs CFO has calculated the companys WACC is 8.63%. What is the companys cost of equity capital?