eBook Palencia Paints Corporation has a target capital structure of 35% debt and 65% common equity, with no preferred stock. Its before tax cost of debt is 12%, and its marginal tax rate is 25%. The current stock price is Po $24.50. The last dividend was Do - $2.00, and it is expected to grow ota 6% constant rote: What is its cost of common equity and its WACC? Do not round intermediate calculations. Round your answers to two decimal places WACC