Pollo Inc.'s 4.29% bonds have a YTM of 8.58%. The estimated risk premium between the company's bonds and stocks is 4%. Pollo's cost of common equity, Re, is %. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round any intermediate work in the process. Margin of error for correct responses: +/-.03 %)