Holiday House Tech has a target capital structure of $35\%$ debt and $65\%$ common equity. Holiday House does not issue preferr$$d stock. The yield to maturity on the company's outstanding bonds is $7\%,$ and the company's tax rate is $22\%.$ Holiday House's CFO has calculated the company's WACC as $8\mathrm{.}9\%.$ What is the company's cost of common equity capital? Blank $1$