North Bay Crypto Miners has an unlevered cost of capital of 13.00%, a tax rate of 35.00%, and expected earnings before interest and taxes of $6,560.00. The company has $13,500.00 in bonds outstanding that have a 6.00% coupon and pay interest annually. The bonds are selling at par value. What is the cost of equity?

a) 15.27%
b) 15.56%
c) 14.47%
d) 14.66%