The Swanson Corporation$$s common stock has a beta of $1\mathrm{.}6.$ If the risk$-$free rate is $5\mathrm{.}6$ percent and the expected return on the market is $10$ percent, what is the company$$s cost of equity capital? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$