Situational software CO$.($SSC$)$ Is trying to establish its optimal capital structure. Its current capital structure consist of $35\%$ debt and $65\%$ equity;

However the CEO believes that the firm should use more debt. The the risk free rate, rfr is $4\%$; the market risk premium, RPm is $5\%$ and the firms tax rate is $25\%.$ Currently SSC$\text{'}$s cost of equity is $15\%$ which is determined by the CAPM. What would be SSC$\text{'}$s estimated coat of equity if it changed its capital structure to $50\%$ debt and $50\%$equity? Do not round intermediate calculations. Round your answer to two decimal places

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