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20A company has an EBIT of $4,750 in perpetuity. The unlevered cost of capital is 16.46%, and there are 27,230 common shares outstanding. The company

20A company has an EBIT of $4,750 in perpetuity. The unlevered cost of capital is 16.46%, and there are 27,230 common shares outstanding. The company is considering issuing $10,410 in new bonds at par to add financial leverage. The proceeds of the debt issue will be used to repurchase equity. The YTM of the new debt is 11.52% and the tax rate is 35%. What is the weighted average cost of capital after the restructuring?

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