Percy Motors has a target capital structure of 40% debt and 60% common equity, with no preferred stock. The yield to maturity on the company's outstanding bonds is 9%, and its tax rate is 40%. Percy's CFO estimates that the company's WACC is 9.96%. What is Percy's cost of common equity? (HINT: Without preferred stock, so WACC= (wd)(rd)(1-T)+(wc)(rs). Given WACC, rd, wd, wc, and T, solve the cost of common equity, rs)