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Pearson Motors has a target capital structure of 35% debt and 65% common equity. with no preferred steck. The yield to maturity on the company's

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Pearson Motors has a target capital structure of 35% debt and 65% common equity. with no preferred steck. The yield to maturity on the company's outstanding bonds is 8%, and its tax rate is 25%. Pearson's CFO estimates that the cumpany's WACC is 10.80\%. What is Pearson's cost of comerion equity? Do not round intermediate calculations. Round your answer to two decimal places

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