Gaucho Services starts life with all-equity financing and a cost of equity of 16%. Suppose It refinances to the following market-value capital structure: Debt (D) Equity (E) 428 584 at ip = 10.30 Use MM's proposition 2 to calculate the new cost of equity. Gaucho pays taxes at a marginal rate of To = 40%. 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.) After-tax WACC %