Xena Corp.
Total Assets	$21,249
Interest-Bearing Debt (market value)	$9,963
Average borrowing rate for debt	10.2%
Common Equity:
Book Value	$5,535
Market Value	$23,247
Marginal Income Tax Rate	37%
Market Beta	1.64

Using the information from the table, and assuming that the risk-free rate is 4.5% and the market risk premium is 6.2%, calculate Xena's cost of equity capital, using the capital asset pricing model: (one decimal point)