Your firm has a Return on Assets of $8\mathrm{.}00\%,$ the firm can issue debt at $3\mathrm{.}50\%$ regardless of the leverage, and the firm$$s marginal tax rate is $25\%.$ If the firm$$s debt$-$to$-$asset ratio is $24\%,$ what is the Cost of Equity Capital within the $1963$ Miller & Modigliani framework?

Group of answer choices

$9\mathrm{.}35\%$

$9\mathrm{.}78\%$

$6\mathrm{.}77\%$

$9\mathrm{.}07\%$

$8\mathrm{.}81\%$