could you please do a written solution with all the formulas explained? I keep on getting 14.98% and don't know if it's correct or not. Thank you in advance

c) The average debt-to-value ratio in the pharmaceutical industry is 20%. What would GlaxoSmithKline's cost of equity be if it took on the average amount of debt of its industry at a cost of debt of 5%? Do this calculation assuming the company does not pay taxes. (10 marks) c) The average debt-to-value ratio in the pharmaceutical industry is 20%. What would GlaxoSmithKline's cost of equity be if it took on the average amount of debt of its industry at a cost of debt of 5%? Do this calculation assuming the company does not pay taxes. (10 marks) c) The average debt-to-value ratio in the pharmaceutical industry is 20%. What would GlaxoSmithKline's cost of equity be if it took on the average amount of debt of its industry at a cost of debt of 5%? Do this calculation assuming the company does not pay taxes. (10 marks) c) The average debt-to-value ratio in the pharmaceutical industry is 20%. What would GlaxoSmithKline's cost of equity be if it took on the average amount of debt of its industry at a cost of debt of 5%? Do this calculation assuming the company does not pay taxes. (10 marks)