Dusit is financed 36% by debt yielding 8.6%. Investors require a return of 15.6% on Dusits equity.

a. What is the companys weighted-average cost of capital if the corporate tax rate is 21%?

b. What would be the companys cost of capital if it were exempted from corporate tax?

(For all the requirements, do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)