Washer Masher Limited has a beta of $1,5.$ The market rate of return is $8\%,$ and the risk$-$free rate is $4\%.$ Calculate the current cost of equity of Washer Masher by using the capital asset pricing model?

$($a$)8\%$

$($b$)4\%$

$($c$)6\%$

$($d$)10\%$

Select one:

a$.$

$4\%$

b$.$

$10\%$

c$.$

$8\%$

d$.$

$6\%$