XYZ Corp is currently 100% equity financed.Its current cost of equity is 10.3%.The firm wants to permanently change its financing policy to target a debt-to-enterprise value ratio of 24%. The cost of debt associated with this new financing policy will be 5.3%. Assuming perfect markets, what will XYZ'scost of equity be after it implements this new financing policy? Express your answer in percent and round to two decimals (do not include the %-symbol in your answer).

Question 3 5 points Save Answer XYZ Corp is currently 100% equity financed. Its current cost of equity is 10.3%. The firm wants to permanently change its financing policy to target a debt-to-enterprise value ratio of 24%. The cost of debt associated with this new financing policy will be 5.3%. Assuming perfect markets, what will XYZ's cost of equity be after it implements this new financing policy? Express your answer in percent and round to two decimals (do not include the %-symbol in your answer)