Alderman plc is a UK construction company financed by 30% debt and 70% equity. The company is currently negotiating 20m additional finance with Global Finance, an investment company. Global Finance is aware of three companies similar to Alderman plc, with the following financial data: Equity beta Debt (%) Equity (%) Tax rate (%) Solar plc 1.20 20 80 30 TopFloor plc 1.25 15 85 30 Green Day plc 1.30 10 90 30 Each of the above companies operates in the construction industry. Additionally, 50% of Green Day plcs business is involved in software development, which is considered to be 50% more risky than construction. The risk-free rate of return is 5%. The construction industry average return is 15%. Aldermans plc tax rate is 30%. The debt for each of the companies is risk-free and therefore their debt betas are zero.

Required: Estimate the current level of return for Alderman plc.