Backwards Resources Company has a WACC of 10.00 percent, and it is subject to a 30 percent marginal tax rate. Backwards has $200 million of debt outstanding at an interest rate of 8 percent and $600 million of equity (at market value) outstanding. What is the expected return on the equity with this capital structure? (Round answer to 2 decimal places, e.g. 17.54%.) Please show breakdown of equation.