You have the following data for Walmart:

Food and Grocery $=$ Retail segment

Sams Club $=$ Wholesale segment

Walmart Food and Grocery Segment Revenues $=$ $$577,868$

Walmart Sams Club Revenues $=$ $$85,836$

You have the following industry data:

Industry avg. EV$/$Sales ratio $($Enterprise Value $/$ Sales ratio$)$ for Food and Grocery Retail is $0\mathrm{.}43$ in $2023.$

Industry avg. EV$/$Sales ratio $($Enterprise Value $/$ Sales ratio$)$ for Wholesale is $1\mathrm{.}16$ in $2023.$

Industry avg. Unlevered Beta for Food and Grocery Retail is $0\mathrm{.}65$ in $2023.$

Industry avg. Unlevered Beta for Wholesale is $1\mathrm{.}22$ in $2023.$

Walmart has the following international exposure:

Revenues from USA and Canada $=87\mathrm{.}26\%$

Revenues from Mexico $=6\mathrm{.}37\%$

Revenues from China $=2\mathrm{.}07\%$

Revenues from UK $=1\mathrm{.}55\%$

USA and Canada are rated as AAA with no default spread. Total equity risk premium is $5\%$

Mexico is rated as BA$2.$ Total equity risk premium is $8\mathrm{.}44\%$

China is rated as BA$1.$ Total equity risk premium is $7\mathrm{.}02\%$

UK is rated as AA$.$ Total equity risk premium is $5\mathrm{.}13\%$

$10$ year$-$Tbond rate $($Rf$)$ for USA is $4\mathrm{.}65\%$

Walmart has the following capital structure:

Total equity $=492,954$

Total debt $=67,474$

Tax rate $=33\%$

What is the cost of equity for Walmart?