Gnomes R Us is considering a new project. The company has a debt$-$equity ratio of $0\mathrm{.}66$ The company$$s cost of equity is $14\mathrm{.}22$ percent, and the aftertax cost of debt is $8\mathrm{.}9$ percent. The firm feels that the project is riskier than the company as a whole and that it should use an adjustment factor of $+4$ percent.

What discount rate should the firm use for the project?