Your firm is planning to invest in an automated packaging plant. Harburtin Industries is an all$-$equity firm that specializes in this business. Suppose Harburtin's equity beta is $0\mathrm{.}82,$ the risk$-$free rate is $3\mathrm{.}8\%,$ and the market risk premium is $4\mathrm{.}6\%.$ If your firm's project is all$-$equity financed, estimate its cost of capital.

Harburtin's cost of capital is $\%.($Round to two decimal places.$)$