Nine Point Industries has a beta of 1.06 and a marginal tax rate of 21%. The expected return on the market is 9% and the return on a Treasury security is 2.35%. Estimate the firm's cost of internal equity, SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO 2 DECIMAL PLACES AT THE END DO NOT ENTER THE % SIGN. IF YOUR ANSWER IS 7.70%, FOR EXAMPLE, ENTER 7.70