Rast Company's market equity beta is 1.2. The return on the market portfolio is 9%, the market premium is 7%, and the risk-free rate of return is 2%. Rast's income tax rate is 20%, common equity book value is $80 million, and common equity market value is $98 million. What is Rast's cost of common equity capital? 9.8% 12.6% 11.2% 10.4%