Sunland Corp. currently has a WACC of 23 percent. If the cost of debt capital for the firm is 9 percent and the firm is currently financed with 50 percent debt, then what is the current cost of equity capital for the firm? Assume that the assumptions in Modigliani and Millers Proposition 1 hold. (Round answer to 2 decimal places, e.g. 17.54%.)

Current cost of equity capital

enter the current cost of equity capital in percentages rounded to 2 decimal places %