Planck's Black Radiation, Inc. just paid annual dividend of $1.83 for each share. This dividend is expected to raise by 3.6 percent annually. Currently, the firm has beta of 1.12 and stock price of $35 a share. The risk-free rate is 4.1 percent and market rate of return is 12.9 percent. Find out the cost of equity capital (in percents) for Planck's?