An all$-$equity firm has the following expected values in one year, depending on the state of the economy:

State Recession Boom

Probability $0\mathrm{.}40\mathrm{.}6$

Expected firm value $70250$

The firm's cost of capital is $21\%.$ Assume that you want to borrow $$80$ for one year to buy the firm. The quoted interest rate on the loan is $13\%.$

What is the expected rate of return on the levered equity?