Joylin, Incorporated, has equity with a market value of $22 million and debt with a market value of $11 million. Treasury bills that mature in one year yield 4 percent per year and the expected return on the market portfolio is 10 percent. The beta of the companys equity is 1.05. The company pays no taxes.

a.) What is the company's debt-equity ratio?

b.) What is the company's weighted cost of capital?

c.) What is the cost of capital for an otherwise identical all-equity company?