ABC Inc. currently finances with $20\mathrm{.}0\%$ debt $($i$.$e$.,$ wd $=20\%),$ but its new CFO is considering changing the capital structure so wd $=36\mathrm{.}0\%$ by issuing additional bonds and using the proceeds to repurchase and retire common shares so the percentage of common equity in the capital structure $($wc$)=1$ wd$.$ Given the data shown below, by how much would this recapitalization change the firm's cost of equity, i$.$e$.,$ what is rNew $-$ rOld? Hint: Find the unlevered beta, then use it to find the new beta at the new debt level. The cost of equity is found from the CAPM.

Answer just the number without the $\%$ sign. Keep the $-$ sign if it is a negative number. Round to two decimal places.

Risk$-$free rate, rRF $5\mathrm{.}00\%$ Tax rate, T $40\%$

Market risk premium, RPM $6\mathrm{.}00\%$ Current wd $20\%$

Current beta, bL$11\mathrm{.}65$ Target wd $36\mathrm{.}0\%$