Question $2$

$5$ pts

Kaiser Aluminum has a beta of $0\mathrm{.}70.$ If the risk$-$free rate $(R_{RF})$ is $5\mathrm{.}0\%,$ and the market risk premium $(R{P}_M)$ is $7\mathrm{.}4\%,$ what is the firm's cost of equity from retained earnings based on the CAPM?

Your answer should be between $8\mathrm{.}70$ and $11\mathrm{.}25,$ rounded to $2$ decimal places, with no special characters.