Situational Software $Co.(SSC)is$ trying $to$ establish its optimal capital structure. Its current capital structure consists $of20\%$ debt and $80\%$ equity; however, the CEO believes that the firm should use more debt. The risk$-$free rate, $rRF,is5\%$; the market risk premium, $RPM,is7\%$; and the firm's tax rate $is40\%.$ Currently, $SSC\text{'}scostof$ equity $is16\%,$ which $is$ determined $by$ the CAPM. The data has been collected $in$ the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis $to$ answer the question below. What would be SSC$\text{'}$s estimated cost of equity if it changed its capital structure to $50\%$ debt and $50\%$ equity? Round your answer to two decimal places. Do not round intermediate steps.