Here is Establishment Industries' market-value balance sheet (Figures in millions): The debt is yielding 6.4%, and the cost of equity is 14.6%. The tax rate is 32%. Investors expect this level of debt to be permanent. a. What is Establishment's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) WACC % b. How would the market-value balance sheet change if Establishment retired all its debt? (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 1 decimal place.)