Steady Company's stock has a beta of $0\mathrm{.}22.$ If the risk$-$free rate is $6\mathrm{.}1\%$ and the market risk premium is $6\mathrm{.}9\%,$ what is

an estimate of Steady Company's cost of equity?

Steady's cost of equity capital is $7\mathrm{.}6\%.($Round to one decimal place.$)$