A firm's unlevered cost of capital is 12%. The firm has a market value of equity of $14 million and $5 million in outstanding debt at an interest rate of 4%. The corporate tax rate is 30%. What is the firm's cost of equity? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit the % sign in your response. For example, an answer of 15.39% should be entered as 15.39.) Numeric Response