iler Manufacturing has 4,936,555 shares of common stock outstanding. The current share price is $56.57, and the book val

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iler Manufacturing has 4,936,555 shares of common stockoutstanding. The current share price is $56.57, and the book valueper share is $9.75. Filer Manufacturing also has two bond issuesoutstanding. The first bond issue has a face value of $47,223,164,has a 0.05 coupon, matures in 12 years and sells for 99 percent ofpar. The second issue has a face value of $43,413,065, has a 0.08coupon, matures in 6 years, and sells for 94 percent of par.
The most recent dividend was $0.91 and the dividend growth rateis 0.05. Assume that the overall cost of debt is the weightedaverage of that implied by the two outstanding debt issues. Bothbonds make semiannual payments. The tax rate is 0.33.
What is Filer's cost of equity? Enter the answer with 4 decimals(e.g. 0.2345)