Question 21 (3 points) Assume an M&M world with taxes where the corporate tax rate is 25%, the before tax required return on debt is 8%, the required return on the unlevered firm is 12%, and the firm is financed 20% with debt and 80% with equity. What is the required return on equity? (format of the answer: use percentage form with 2 decimal places, i.e. 6.20% is correct format, not 0.062, not 6.2%) A/