JJ firm issues preferred dividends at an annual rate of $3.57. Its current preferred stock price is $20.67. Assume that the equity beta for JJ is 1.38. The Yield on 10-year treasuries is 2.56%, and that the market risk premium for the year is 7%. 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 $29. What is the common cost of equity for JJ Firm using the CAPM method?