Butler, Inc., has a target debt$-$equity ratio of $1\mathrm{.}70.$ Its WACC is $8\mathrm{.}8$ percent, and the tax rate

is $24$ percent.

a$.$ If the company's cost of equity is $12\mathrm{.}8$ percent, what is its pretax cost of debt? $($Do not

round intermediate calculations and enter your answer as a percent rounded to $2$

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

b$.$ If instead you know that the aftertax cost of debt is $6\mathrm{.}9$ percent, what is the cost of

equity? $($Do not round intermediate calculations and enter your answer as a percent

rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$