Hartford Mining has 40 million shares that are currently trading for $ 8 per share and $ 80 million worth of debt. The debt is risk free and has an interest rate of 7 %, and the expected return of Hartford stock is 9 %. Suppose a mining strike causes the price of Hartford stock to fall 25 % to $ 6.00 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? (2 decimal place)