You have risen through the ranks of a coffee comany, from the lowly green-apron barista to the coveted black apron, and all the way to CFO. A quick internet check shows that your company's beta is

0.64.

The risk-free rate is

4.7%

and you believe the market risk premium to be

5.7%.

What is your best estimate of investors' expected return on your company's stock (its cost of equity capital)?

The expected return is?