Hewler Corp has debt with both a book and a market value of $$400,000.$ This debt has a coupon rate of $6\%$ and pays interest annually. The expected earnings before interest and taxes are $$80,000,$ the tax rate is $35\%,$ and the unlevered cost of capital is $8\%.$ Calculate the cost of equity for the levered firm according to MM proposition II with taxes. $($Do not round intermediate calculations. Round the final answers to $2$ decimal places. Omit $\%$ sign in your response. if your answer is $72\mathrm{.}92\%,$ enter $72\mathrm{.}92)$