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Axon Industries needs to raise $29.31M for a new Investment project. If the firm Issues one-year debt, it may haveto pay an interest rate of

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Axon Industries needs to raise $29.31M for a new Investment project. If the firm Issues one-year debt, it may haveto pay an interest rate of 10.38 %, although Axon's managers believe that 4.85 % would be a fair rate given the level of risk. If the firm issues equity, they believe the equity may be underpriced by 11,61 %. What should be the undervaluation of equity to match the cost of debt? NOTE: Provide your answers in Percentages, E.G. for 10.15% you must enter 10.15, for 2.05% you must enter 2.05, etc

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