Just Answer M12-20 ONLY.

M12-20. Estimating Cost of Debt Capital Assume that a company's financial statements report that its average outstanding debt totals $1.6 billion and its total interest expense equals $80 million. If its tax rate is 35%, compute its cost of debt capital. M12-21. Estimating Weighted Average Cost of Capital Assume that a company has $1.2 billion in debt, its cost of debt is 5%, it has $2 billion in equity, and its cost of equity capital is 7%. Compute the company's WACC