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Ivanhoe Corp. currently has a WACC of 25 percent. If the cost of debt capital for the firm is 14 percent and the firm is

Ivanhoe Corp. currently has a WACC of 25 percent. If the cost of debt capital for the firm is 14 percent and the firm is currently financed with 45 percent debt, then what is the current cost of equity capital for the firm? Assume that the assumptions in Modigliani and Millers Proposition 1 hold. (Round answer to 2 decimal places, e.g. 17.54%.)

Current cost of equity capital _____ %

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