Situational Software Co. (SSC) is trying to establish its optimal capital structure. Its current capital structure consists of 35% debt and 65 fo equity; however, the CEO believes that the firm should use more debt. The risk-free rate, raF, is 3%; the market risk premium, RPM, is 7%; and the firm's thix rate is 25%. Currently, 5SC 's cost of equity is 13%, which is determined by the CAPM. What would be SSC's estimated cost of equity if it changed its cqpital structure ta 50% debt and 50% equity? Do not round intermediate calculations. Round your answer to two decimal places