The Swanson Corporation's common stock has a beta of $1\mathrm{.}7.$ If the risk$-$free rate is $5\mathrm{.}7$ percent and the expected return on the market is $11$ 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$.,32\mathrm{.}16.)$

Cost of equity capital