Question: What is the numerical answer ? Aladdin Sound & Lighting is funded by both debt and common equity, and debt consists of 60% of its

What is the numerical answer ?

Aladdin Sound & Lighting is funded by both debt and common equity, and debt consists of 60% of its target capital structure. The firm is planning to invest in a project that will necessitate raising new capital. New debt will be issued at a before-tax yield of 13.2%, with a coupon rate of 8.1%. The equity will be provided by internally generated funds so no new outside equity will be issued. If the firm's cost of common stock is 14.7% and its marginal tax rate is 35%, compute Aladdin's cost of capital (provide your answer in percentage with two decimal places)

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