The Lenzie Corporation's common stock has a beta of $1\mathrm{.}70.$ If the risk$-$free rate is $5\mathrm{.}7\%$ 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 $\%$N