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 $=3\%$; market risk premium $=7\mathrm{.}3\%$; and beta $=1\mathrm{.}22.$ Based on the CAPM approach, what is the cost of common stock from reinvested earnings?