You have the exclusive rights to undertake a project that will produce in a year a pre-tax cashflow of $90,000 if the economy is bad or $130,000 if the economy is good. Both outcomes are equally likely. The project has a one-year life. The project requires an initial cash outlay of $80,000 but you have no money. The project's expected unlevered return on equity is 15% while the risk-free rate is 5%. You are considering investing in the project and you are evaluating two different funding alternatives. The first option is to raise the entire $80,000 issuing equity, while the second alternative is to raise $65,000 as debt and use equity to finance the rest. The corporate tax rate is 10%. There is no depreciation.

What is the percentage of the equity you would retain if you chose the levered option?