Consider a company that is currently all-equity financed and expects to operate in perpetuity with FCF that are expected to grow at the constant rate of 1.1%. The company's expected EBIT for next year is $3.1M (Memillion) and the expected return of its equity is 11.7%. The current corporate tax rate is 21%. The government unexpectedly announces that the corporate tax rate will go up to 30% starting from next year. To compensate for the higher taxes, the company decides to exploit the tax advantage of debt by raising SAM in permanent debt and using the proceeds to buy back existing equity shares. The cost of capital of debt is 5,4%. Q: What is the expected return of the equity after the debt issuanco? Report your answer in percentage (%) and round it to 2 decimal places