Hubbard's Pet Foods is financed 90% by common stock and 10% by bonds. The expected return on the common stock is 12.7%, and the rate of interest on the bonds is 6.9%. Assume that the bonds are default-free and that there are no taxes. Now assume that Hubbard's issues more debt and uses the proceeds to retire equity. The new financing mix is 72% equity and 28% debt. Given the initial capital structure, calculate the expected return on assets. (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) Expected rate of return % Given the revised capital structure, calculate the expected rate of return on equity. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Expected rate of return %