Suppose stock in Watta Corporation has a beta of $0\mathrm{.}80.$ The market risk premium

is $6$ percent, and the risk$-$free rate is $6$ percent. Watta$$s last dividend was $$1\mathrm{.}20$ per share, and

the dividend is expected to grow at $8$ percent indefinitely. The stock currently sells for $$45$ per

share. What is Watta$$s cost of equity capital?