Zombie Manufacturing Company is expected to pay a dividend of $4.94 in the upcoming year. Dividends are expected to grow at 5.8% per year. The risk-free rate of return is 2.9%, and the expected return on the market portfolio is 9.8%. Investors use the CAPM to compute the market capitalization rate and use the constant-growth dividend discount model to determine the value of the stock. The stock's current price is $80. What is your estimate for the market capitalization rate of this asset?

Enter answer in percents to two decimal places.