Check my work Gaucho Services starts life with all-equity financing and a cost of equity of 12%. Suppose it refinances to the following market value capital structure: 49% Debt (D) Equity (E) at rd = 98 51% Use MM's proposition 2 to calculate the new cost of equity. Gaucho pays taxes at a marginal rate of Tc = 30%. Calculate Gaucho's after-tax weighted average cost of capital. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) After-tax WACC %