A firm's return on assets is estimated to be $12\%$ and the cost of the firm's debt is $4\%.$ Given a $0\mathrm{.}3$ debt to equity ratio, what is the levered cost of equity?

Group of answer choices

$16\mathrm{.}6\%$

$14\mathrm{.}4\%$

$12\mathrm{.}2\%$

$18\mathrm{.}8\%$