Nine Point Industries has a beta of 1.88 and a marginal tax rate of 21%. The expected return on the market is 5% and the return on a Treasury security is 3.46%. 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