Empire Electric Campany (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate of rd=11% as long as it finances at its target capital structure, which calls for 25% debt and 75% common equity. Irs last dividend (Do) was 52.30 , its expected constant growth rate is 4%, and its common stock sells for $23. EEC's tax rete is 25%. Two projects are available; Project A has a rate of refurn of 13%, and Project B's return is 11%. These two projects are equally risky and about as risky as the firm's existing assets. a. What is its cost of common equity? Do not round intermediate calculations. Round your answer to two decimal places. b. What is the WACC? Do not round intermeduate calculations, Round your answer to two decimal places