Braxton Corp. has no debt but can borrow at $6\mathrm{.}9$ percent. The firm's WACC is currently

$8\mathrm{.}7$ percent, and the tax rate is $35$ percent.

a$.$ What is the company's cost of equity? $($Do not round intermediate calculations.

Enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Cost of equity

b$.$ If the firm converts to $35$ percent debt, what will its cost of equity be$?($Do not round

intermediate calculations. Enter your answer as a percent rounded to $2$ decimal

places, e$.$g$.,32\mathrm{.}16.)$

Cost of equity

$13\mathrm{.}14$

$\%$

c$.$ If the firm converts to $40$ percent debt, what will its cost of equity be$?($Do not round

intermediate calculations. Enter your answer as a percent rounded to $2$ decimal

places, e$.$g$.,32\mathrm{.}16.)$

Cost of equity

$14\mathrm{.}2$

$\%$

d$-1$ If the firm converts to $35$ percent debt, what is the company's WACC? $($Do not round

intermediate calculations. Enter your answer as a percent rounded to $2$ decimal

places, e$.$g$.,32\mathrm{.}16.)$

WACC

$8\mathrm{.}71$

$\%$

d$-2$ If the firm converts to $40$ percent debt, what is the company's WACC? $($Do not round

intermediate calculations. Enter your answer as a percent rounded to $2$ decimal

places, e$.$g$.,32\mathrm{.}16.)$