calculate using formulas and not excel. please step by step

1) cost of equity

2) WACC

. 1. Practice Peter is planning to value Wayne Warrior LTD. (WW) using a single-stage FCFF approach. WW, headquartered in Detroit, MI, provides a variety of work from home products. The financial information Peter has assembled for his valuation is as follows: The company has 2,000 million shares outstanding. Market value of debt is $3.192 billion. FCFF is currently $1.25 billion Equity beta is 0.90, the equity risk premium is 5.5 percent, and the risk-free rate is 2 percent. The before-tax cost of debt is 7.0 percent The tax rate is 40 percent To calculate WACC, assume the company is financed 25 percent with debt. FCFF growth rate is 4 percent. Using Peter's information, calculate the following: A Cost of equity . . . . . B. WACC