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: at ro = 9% Debt (D) Equity (E) 49% 51% Use MMs 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.) X Answer is complete but not entirely correct. After-tax WACC 14.28 X %