Lauterbach Corporation uses no debt in its current capital structure, while its beta is 1.10, and its tax rate is 40%. However, the CFO is considering moving to a new capital structure with 30% debt and 70% equity. If the risk-free rate is 5.0% and the market risk premium is 6.0%, then what would be the firm's new cost of equity with this new capital structure? (Show two decimals in your percentage. HINT: start by calculating the new beta for this capital structure.)