TND Ltd is an all-equity firm and its financial manager is planning to change its capital structure to maintain a debt-equity ratio of 0.2. The firm's unlevered beta is 0.72. The expected market rate of return is 9.24 percent and the risk-free rate of return is 5.94 percent. If the applicable tax rate for TND Ltd is 33 percent, calculate the new cost of equity for this firm. (Write the answer in % rounded to two decimal places. For example, if your answer is 1.234%, write only 1.23)