The Lenzie Corporation's common stock has a beta of $1\mathrm{.}30.$ If the risk$-$free rate is $5\mathrm{.}3\%$ 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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