The Swanson Corporation's common stock has a beta of $1\mathrm{.}07.$ If the risk$-$free rate is $3\mathrm{.}4$ percent and the expected return on the market is $11$ percent, what is the company's cost of equity capital?

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$\backslash$table$[[$Beta$,1\mathrm{.}07],[$Risk$-$free rate,$3\mathrm{.}40\%$