Suppose RIG has a market capitalization of $250 million and $50 million in outstanding debt. RIGs debt cost of capital is 5% and its WACC is 10%. If the corporate tax rate is 25%, RIGs equity cost of capital is _____%.

Instruction: Type your answer in the unit of percentage point, and round to three decimal places. E.g., if your answer is -0.0106465 or -1.06465%, should type ONLY the number -1.065, neither -0.0106465, -0.0106, nor -1.065%, because I already have percentage sign at the end of the problem. Otherwise, Blackboard will treat it as a wrong answer.