You have been hired as a consultant by Capital Pricing Company's CFO, who wants you to help her estimate the cost of capital. You have been provided with the following data: risk free rate = 5.9%; market risk premium = 6.3%; and beta = 1.44. Based on the CAPM approach, what is the cost of common stock from reinvested earnings? (Express your answer in % and round to the second decimal place. For example, if your answer is 0.1234, write it as 12.34 and leave out the percentage sign.)