Question 10 8 pts BG's has equity beta of 1.25 with total assets financed with 70% from equity. The expected excess return on the market is 15.6%, and the risk-free rate is 3.8%. The firm is considering cutting total equity to 62.5% of total value. Assume the meets its target. What would be the percentage cost of equity? (Do not round intermediate calculations. Enter the final answer, with no percent symbol (%), rounded, if necessary, up to two decimal places, e.g., 12.9945 as 13.00 or 12.9944 as 12.99)