The market value of equity of ABC Corporation is BDT 40 crore, consisting of 2 crore outstanding shares priced at BDT 20 per share. The market value of debt is BDT 60 crore and the company pays an annual interest rate of 8% per annum on its debt. The corporate tax rate is 30% per annum. The beta of the company's stock is 1.2 and the risk free rate is 4%. The market risk premium is 6%. Calculate the cost of equity using CAPM.