J] firm issues preferred dividends at an annual rate of $4.08. Its current preferred stock price is $20.66. Assume that the equity beta for ]] is 0.85. The Yield on 10-year treasuries is 2.75%, and that the market risk premium for the year is 6%. The company's EPS expected growth is 2%. For this year, the dividends for JJ firm are the same for common and preferred stock; additionally the price for common stock is $27. What is the common cost of equity for ]] Firm using the CAPM method? NOTE: Answer in percentages. That is, if your answer is 90% or 0.90, you should answer 90.00, not 0.90