Riemann's currently has a weighted average cost of capital of $8\mathrm{.}1$ percent based on a combination of debt and equity financing. The firm has no preferred stock. The current debt$-$equity ratio is $0\mathrm{.}79$ and the aftertax cost of debt is $6\mathrm{.}0$ percent. The company just hired a new president who is considering eliminating all debt financing. All else constant, what will the firm's cost of capital $($in percents$)$ be if the firm switches to an all$-$equity firm?

Answer Tolerance: $\backslash$pm $0\mathrm{.}125$