RF Corporation is using $89 million in Retained Earnings to fund a new project. Given that its Common Stock is currently selling at $208 per share, paying dividends of $33 per year, while the company is growing at 3% per year and its aggregate corporate tax rate for this company is 36%, compute the after tax cost of capital for this corporation's usage of Retained Earnings. Write your answer as percentage (e.g. if your answer is 5%, write 5 not 0.05 ). Note: round your answer to two decimal places, and do not include spaces, percentage signs, plus or minus signs, nor commas