Colt Manufacturing has two divisions: 1) pistols; and 2) rifles. Betas for the two divisions have been determined to be beta (pistol) = 0.5 and beta (rifle)=1.1. The current risk-free rate of return is 3%, and the expected market rate of return is 10%. The after-tax cost of debt for Colt is 4.5%. The pistol division's financial proportions are 35.0% debt and 65.0% equity, and the rifle division's are 45.0% debt and 55.0% equity.

a. What is the pistol division's WACC?

b. What is the rifle division's WACC?