Laramie Trucking's CEO is considering a change to the company's capital structure, which currently consists of 24% debt and the remainder equity. The CFO believes the firm should use more debt, but the CEO is reluctant to increase the debt ratio. The risk-free rate is 3%, the market risk premium is 5%, and the firm's tax rate is 29%. Currently, the cost of equity is 10.1% as determined by the CAPM. What would be the estimated cost of equity if the firm used 51% debt? (Hint: You must first find the current beta and then the unlevered beta to solve the problem.) Please show all work in excel.