Cede & Co. expects its EBIT to be dollar 64,000 every year forever. The firm can borrow at 8 percent. Cede currently has no debt, its cost of equity is 14 percent, and the tax rate is 35 percent. Assume the company borrows dollar 171,000 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).)