The Lenzie Corporation$$s common stock has a beta of $1\mathrm{.}80.$ If the risk$-$free rate is $4\mathrm{.}9\%$ and the expected return on the market is $11\%,$ what is the company$$s cost of equity capital? $($Do not round intermediate calculations. Enter your answer as a percentage rounded to $2$ decimal places.$)$

Cost of equity capital

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