Your company has always assumed a cost of common equity capital of about 12.0%. An intern you supervise at the firm recently gathered the information below, and you now want to run a check on that long-standing assumption. What is your good estimate of Re? the yield right now on a 5-year US Treasury note: 2.81% total liabilities: $23 million total shareholders' equity: $24 million company's stock beta: 1.67 5-year average return on the S&P 500: 10.04% YTM on the company's only bond issue: 4.20% Enter your response as a regular percentage rate, rounded to the nearest first decimal. Do not enter dollar signs, percent signs, or commas.