Gustavo Corp.'s stock has a Beta of 1.0. The risk-free rate is 3.7%, and the Market Risk Premium is estimated at 7.9%. The firm's cost of common equity, Re, is _____%.

Margin of error for correct responses: +/- .03(%)

Rounding and Formatting instructions: Do not enter dollar signs, percent signs, commas, X, or any words in your response. Do not round any intermediate work, but round your *final* response to 2 decimal places (example: if your answer is 12.3456, 12.3456%, or $12.3456, you should enter 12.35).