Winter's Toyland has a debt-equity rato of 0.75. The cost of debt is 5 percent and the required return on assets is 17 percent. What is the cost of equity if you ignore texes? Write your answer as a percent rounded to two digits, but don't include the % sign (le. write 12.63, not 0.1263 ). Numeric Response Johnson Tire Distributors has debt with both a face and a market value of $105,000,000. Thls debt has a coupon rate of 8 percent and pays interest annually. The expected earnings before interest and taxes is a constant $50,000,000 in perpetulty. The compony's tax rate is 25 percent, and the unlevered cost of capital is 25 percent. What is the firm's cost of equity? Write your answer as a percent rounded to two digits, but don' Include the % sign (l.e. enter 12.63, not 0.1263 ). HINT: You need to use both M\&M propositions. Numerk Response