Question $5$

$2$ pts

Debt: Capital can be raised through bank loans at a pretax cost of $6\mathrm{.}4\%.$ Also, bonds can be issued at a pretax cost of $6\mathrm{.}4\%.$ to grow at $8\%$ in the future.

What is the cost of external equity?

PLEASE INPUT THE ANSWER IN PERCENT ROUNDING IT TO $2$ DECIMALS. DO NOT INCLUDE $\%$ SIGN, E$.$G$.,$ INSTEAD OF $9\mathrm{.}9922\%$ INPUT $9\mathrm{.}99$