Pearson Motors has a target captal structure of 35% debt and 65% common equity. weh no preferred stock, The yield to moturity on the compaty's outatanding bends is 9%, and its tax rate is 25\%. Pearson's CFO estimates that the company's WACC is 12.70%. What is Pearson's cost of comenen equity? Do not round intermediate calculatians. Round your answer to two decimal places