Hubbard industries is an all-equity firm whose shares have an expected return of 10%. hubbard

Hubbard industries is an all-equity firm whose shares have an expected return of 10%. hubbard does a leveraged recapitalization, issuing debt and repurchasing stock, until its debt-equity ratio is 0.60. due to the increased risk, shareholders now expect a return of 13%. assuming there are no taxes and what is the interest rate on the debt? give your answer in percentage and with the % sign