A firm has debt beta of 0.45 and an asset beta of 1.60. If the debt-equity ratio is 60 percent, the levered equity beta is 2.29. suppose Corp. decides to change its debt ratio to 20%. The new cost of debt is 5.9%. The company's business risk, opportunity cost of capital, and tax rate have not changed. What is the new WACC? (hint: use three steps)