An unlevered company with a cost of equity of 13.25% is considering borrowing $1,400,000. The borrowed funds would be used to repurchase shares. EBIT is expected to be $400,000 every year indefinitely. Assume all the M&M assumptions are satisfied and all available earnings are immediately distributed to common shareholders. According to M&M Proposition I without taxes, what will be this company's WACC if it proceeds with the capital restructuring?