Sunland Resources Company has a WACC of 12.0 percent, and it is subject to a 35 percent marginal tax rate. Sunland has $280 million of debt outstanding at an interest rate of 9 percent and $600 million of equity (at market value) outstanding. What is the expected return on the equity with this capital structure? (Round answer to 2 decimal places, e.g. 17.54%.) Expected return on equity enter the expected return on equity in percentages rounded to 2 decimal places %