A mutual fund earned an average annual return of 6.0% over the last 5 years. During that time, the average risk-free rate was 1.1% and the average market return was 7.6%. If the fund has beta of 0.79, what was its annual alpha? Answer in percent, rounded to two decimal places. (e.g., 4.32% = 4.32).

If the risk-free rate is 0.7% and the expected market return is 7.7%, what is the WACC of the company with the following characteristics? Answer in percent, rounded to two decimal places. Market value of debt: $371 million Market price of each share: $23 Number of shares outstanding: 57 million Tax rate: 20.1% The average yield on current debt (pre-tax cost of debt): 3.9% Beta: 1.3