Situational Software Co$.($SSC$)$ is trying to establish its

optimal capital structure. Its current capital structure consists

of $35\%$ debt and $65\%$ equity; however, the CEO believes that the firm

should use more debt. The risk$-$free rate, rRF$,$ is $5\%$; the market

risk premium, RPM$,$ is $7\%$; and the firm's tax rate is $40\%.$

Currently, SSC$\text{'}$s cost of equity is $13\%,$ which is determined by the

CAPM. What would be SSC$\text{'}$s estimated cost 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.${?}_{{?}_{{?}_{?}}{?}_{{?}_{?}}\%}$