Z Ltd is planning to move from all-equity to 40 per cent debt capital. All-equity cost of capital is 15 per cent. Before tax cost of debt would be 10.5 per cent. Find the new cost of equity capital after being leveraged company if the tax rate is 30 per cent. Group of answer choices

13.20 per cent

17.10 per cent

11.94 per cent

18.00 per cent