Consider an all-equity firm whose unlevered cost of equity is 12%. It

Consider an all-equity firm whose unlevered cost of equity is 12%. It

Consider an all-equity firm whose unlevered cost of equity is 12%. It conducts a leveraged share repurchase that issues debt at 6% to repurchase its shares and has a debt-to-equity of 50% after the recapitalization. What is its cost of equity after the recapitalization?