Adjusted WACC. Ashman Molors is currenty an al-equity firm. It has two million shares outstanding, seling for 466 per shsre. The company has a beta of 08 , with the curent risk-free rate at 4.1\% and the market premium at 7.7\%. The tax rate is 40% for the company. Ashman has decided to sell $46 million of bonds and retire half its stock. The bonds will have it yeild to maturiy of 7.4\%. The beta of the compary will rise to 1.2 with the new debt. What was Ashman's adusted WACC bofore seling the bonds? What is its new WACC after seling tha bonds and retring the stock With the proceeds from the sale of the bonds? Hint The weight of equity bofore soling the bond is 100%. Whar was Ashman's adpusted WacC belore selling the bonds? (Round to two decimal ptsces.)