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 2.4%. The company's expected EBIT for next year is $4.2M (M=million) and the expected return of its equity is 10.7%. The current corporate tax rate is 21%. THE government unexpectedly announces that the corporate tax rate will go up to 33% starting from next year. To compensate for the higher taxes, the company decides to exploit the tax advantage of debt by raising $3M in permanent debt and using the proceeds to buy back existing equity shares. The cost of capital of debt is 5.1%. Q: What is the expected return of the equity after the debt issuance? Report your answer in percentage (%) and round it to 2 decimal places