National Home Rentals has a beta of 1.1, a stock price of $17, and recently paid an annual dividend of $.92 a share. The dividend growth rate is 2.2 percent. The market has a rate of return of 11.2 percent and a risk premium of 7.3 percent. What is the estimated cost of equity using the average return of the CAPM and the dividend discount model? Hint: Rm and the market risk premium (Rm - Rf) are given --> Calculate Rf to apply in CAPM. Note: Please write your answer in this format: 9.83%