Winter's Toyland has a debt-equity ratio of 2.00. The cost of debt is 8 percent and the required return on assets is 18 percent. What is the cost of equity if you ignore taxes? Write your answer as a percent rounded to two digits, but don't include the % sign (i.e. write 12.63, not 0.1263).

Numeric Response

38.01

Numeric Response Edit Unavailable 38.01 Incorrect