9. Problem 10.08 (Cost of Common Equity and WACC) eBook patencia Paints Corporation has a target capital structure of 35% debt and 65% common equity, with no preferred stock. Its belora-tax cost of debt is 10%, and its marginal tax rate is 40%. The current stock price is Po $32.00. The last dividend was Do = $2.25, and it is expected to grow at an 8% constant rate. What is its cost of common equity and lS WACC? Do not round Intermediate calculations, Round your answers to two decimal places b. WACC