6. An engineering company has a debt-to-market. value ratio of 40 per cent. The company can raise new debt at 12 per cent. The corporate tax rate for the company is 35 per cent. The company has estimated the required return on equity as 22 per cent. What is the company's weighted average cost of capital? The company is thinking of raising its debt-to-market value ratio to 60 per cent. What will be the company's new weighted cost of capital?