Problem $13-1$ Calculating Cost of Equity

The Swanson Corporation's common stock has a beta of $1\mathrm{.}6.$ If the risk$-$free rate is $4\mathrm{.}7$

percent and the expected return on the market is $13$ percent, what is the company's cost

of equity capital? $($Do not round intermediate calculations and enter your answer as a

percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Cost of equity capital