Acetate, Inc. has equity with a market value of $20 million and debt with a market value of $10 million. Treasury bills that mature in one year yield 8% per year, and the expected return on the market portfolio over the next year is 18%. The beta of Acetates equity is .90. The firm pays no taxes. Required: (a) Calculate Acetates debt to equity ratio. (5 marks) (b) Calculate Acetates weighted average cost of capital. (15 marks) (c) Calculate the cost of capital for an otherwise identical all-equity firm