The required return on the stock of Moe's Pizza is $12\mathrm{.}7$ percent and after$-$tax required return on the company's debt is $3\mathrm{.}97$ percent. The company's market value capital structure consists of $67$ percent equity. The company is considering a new project that is less risky than current operations and it feels the risk adjustment factor is $-1\mathrm{.}6$ percent. The tax rate is $21$ percent. What is the required return for the new project? $(5$ Marks$)$