Cede & Co. expects Its EBIT to be $119,000 every year forever. The company can borrow at 6 percent. The company currently has no debt and its cost of equity is 12 percent and the tax rate is 24 percent. The company borrows $171,000 and uses the proceeds to repurchase shares a. What is the cost of equity after recapitalization? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.. 32.16.) b. What is the WACC? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Cost of equity b. WACC