An Investment Has the Following Characteristics: ATIRR_P: After-Tax IRR on Total

An investment has the following characteristics: ATIRR_P: After-tax IRR on total investment in the property: 9.0%
BTIRR_E: Before-tax IRR on equity invested: 17%
BTIRR_P: Before-tax IRR on total investment in the property: 12%
T: Marginal tax rate: 0.40
What would be the break-even interest rate (BEIR) ,at which the use of leverage is neither favorable nor unfavorable?

A) 15.0%
B) 20.0%
C) 22.5%
D) 28.3%