Carla Vista Corp. currently has a cost of equity capital equal to $17$ percent. Assume that the Modigliani and Miller Proposition $1$ assumptions hold, with the exception of the assumption that there are no taxes, and that the firm's capital structure consists of $50$ percent debt and $50$ percent equity. What is the weighted average cost of capital for the firm if the cost of debt is $10$ percent and the

mecostodtre percentand he

firm is subject to a $28$ percent marginal tax rate? $($Round answer to $2$ decimal places, e$.$g$.17\mathrm{.}54\%.)$

Weighted average cost of capital

$20\mathrm{.}8$

$\%$