Hartford Mining has 100 million shares that are currently trading for $3 per share and $190 million worth of debt. The debt is risk free and has an interest rate of 8%, and the expected return of Hartford stock is 11%. Suppose a mining strike causes the price of Hartford stock to fall 29% to $2.13 per share. The value of the risk-free debt is unchanged. Assuming there are no taxes and the risk (unlevered beta) of Hartford's assets is unchanged, what happens to Hartford's equity cost of capital?