Round answer to 2 decimal places

A firm has a capital structure of 100% equity. An analyst wants to estimate the current cost of capital for the firm. He has collected some financial data shown in the table below: FINANCIAL INSTRUMENT 90-day Treasury Bill S&P 500 Market Index RETURN OR YIELD TO MATURITY 1.36% 8.18% The beta for the firm is 1.42 The firm is considering a capital budgeting project that will create a cash flow next year of $489,956.00. The project cash flows will grow by 3.00% each year for a 11.00-year period, and the cost of the project is $3,489,632.00 today. What is an estimate for the current cost of capital