Pharoah Corp. currently has a WACC of 18 percent. If the cost of debt capital for the firm is 11 percent and the firm is currently financed with 50 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 enter the current cost of equity capital in percentages rounded to 2 decimal places %