Question: - Inc. plans to issue a 20-year noncallable bond with a 7.00% annual coupon (paid semiannually) at a market price of $1050 (note par value

- Inc. plans to issue a 20-year noncallable bond with a 7.00% annual coupon (paid semiannually) at a market price of $1050 (note par value is $1000). The company's tax rate is 40.00%. The firm raised 35% of its total capital by issuing this bond, and rest of the capital from common equity. The firm's WACC is 11.6%. What must be the cost of firm's common equity measured in %. (If the cost of common equity is 12.34%, just enter "12.34")

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