You have risen through the ranks of a coffee company, 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 $0\mathrm{.}62.$ The risk$-$free rate is $6\mathrm{.}74\%$ and you believe the market risk premium to be $5\mathrm{.}97\%.$ What is your best estimate of investors' expected return on

your company's stock $($its cost of equity capital$)?$

The expected return is

$\%.($Round to two decimal places.$)$