situational software company is trying to establish is optimal capital structure is current capital structure consist of $20\%$ debt and $80\%$ Equity however the CEO believes that the firm should use more debt the risk free rate is $3\%,$ the market risk premium is $6\%$ and the firm's tax rate is $25\%$ currently SEC is cost of equity is $13\%$ which is determined by the capm what would be sec$\text{'}$s estimated cost of equity if it changed as capital structure to $50\%$ dead and $50\%$ Equity do not round intermediate calculations round your answer to two decimal places