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Kara Zor-El has been advised that the Build-Up Method is the most appropriate for determining a required rate of return for Steel, Inc. Currently, the Treasury bond rate is 2.50%, the equity risk premium is 6.75%, the correlation risk premium is 5.75%, the micro-cap risk premium is 4.50%, the earnings risk premium is 3.25%, the start-up risk premium is 5.50%, and the seasonal risk premium is 3.75%. Using the Build-Up Method for determining the cost of capital, what is the required rate of return for Steel, Inc.?

A. 13.75%

B. 17.00%

C, 18.25%

D. 19.25%

E. 20.50%