Excel Online Structured Activity: Hamada equation Situational Software Co. (SSC) is trying to establish its optimal capital structure. Its current capital structure consists of 30% debt and 70% equity; however, the CEO believes that the firm should use more debt. The risk-free rate, rRF, is 4%; the market risk premium, RPM, is 6%; and the firm's tax rate is 40%. Currently, SSC's cost of equity is 13%, which is determined by the CAPM. The data has been collected in the Microsoft Excel Online flle below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet What would be SSC's estimated cost of equity if it changed its capital structure to 50% debt and 50% equity? Round your answer to two decimal places. Do not round intermediate steps. \begin{tabular}{|c|c|c|c|c|c|} \hline A & A & B & C & D & E \\ \hline 1 & Hamada equation & & & & \\ \hline \multicolumn{6}{|l|}{2} \\ \hline 3 & Original % debt in capital structure, wd & 30.00% & & & \\ \hline 4 & Original % common equity in capital structure, wc & 70.00% & & & \\ \hline 5 & Risk-free rate, rRF & 4.00% & & & \\ \hline 6 & Market risk premium, RPM & 6.00% & & & \\ \hline 7 & Tax rate, T & 40.00% & & & \\ \hline 8 & Firm's cost of equity, rs & 13.00% & & & \\ \hline 9 & & & & Formulas & \\ \hline 10 & Calculation of firm's current beta: & & & & \\ \hline 11 & Firm's current beta, bL & & & \#N/A & \\ \hline \multicolumn{6}{|l|}{12} \\ \hline 13 & Calculation of firm's unlevered beta: & & & & \\ \hline 14 & Firm's unlevered beta, bu & & & \#N/A & \\ \hline \multicolumn{6}{|c|}{15} \\ \hline 16 & New % of debt in capital structure. wd New & 50.00% & & & \\ \hline 17 & New % of common equity in capital structure, wc New & 50.00% & & & \\ \hline \multicolumn{6}{|l|}{18} \\ \hline 19 & Calculation of firm's new beta: & & & & \\ \hlinem & Firm's now heta hi... & & & HN/A & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Calculation of firm's unlevered beta: & \\ \hline Firm's unlevered beta, bu & \\ \hline New % of debt in capital structure, wd New & 50.00% \\ \hline New % of common equity in capital structure, w0 New & 50.00% \\ \hline \end{tabular} Calculation of firm's new beta: Firm's new beta, bL New Calculation of firm's new cost of equity: Firm's new cost of equity, rsNew