A company wants to calculate its Tier 1 Capital Ratio under Basel III. The company has the following components in its Tier 1 capital:

• Common Equity: $50,000,000
• Non-Cumulative Perpetual Preferred Stock: $20,000,000
• Minority Interest: $5,000,000 The company also has the following components in its risk-weighted assets:
• Credit Risk: $60,000,000
• Market Risk: $30,000,000
• Operational Risk: $20,000,000

Calculate the Tier 1 Capital Ratio for the company under Basel III.