29 Cede & Co. expects its EBIT to be $99,000 every year forever. The company can borrow at 9 percent. The company currently has no debt and its cost of equity is 14 percent and the tax rate is 24 percent. The company borrows $156,000 and uses the proceeds to repurchase shares. 3.03 points 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.) (8 02:30:42 a. Cost of equity b. WACC ol