Butler, Inc., has a target debt-equity ratio of 1.70. Its WACC is 8.8 percent, and the tax rate is 24 percent.
a.	If the companys cost of equity is 12.8 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., 32.16.)
b.	If instead you know that the aftertax cost of debt is 6.9 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., 32.16.)
		Famas Llamas has a weighted average cost of capital of 9.5 percent. The companys cost of equity is 11 percent and its pretax cost of debt is 6.9 percent. The tax rate is 25 percent. What is the company's debt-equity ratio? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)