Cede & Co. expects its EBIT to be $52,000 every year forever. The firm can borrow at 8 percent. Cede currently has no debt, its cost of equity is 11 percent, and the tax rate is 35 percent. Assume the company borrows $147,000 and uses the proceeds to repurchase shares. What is the cost of equity after recapitalization? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Cost of equity ______________ % What is the WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) WACC ___________________ %