Kendall Corporation has no debt but can borrow at $8\mathrm{.}5$ percent. The firm's WACC is currently $16$ percent, and there is no corporate tax.

a$.$ What is the company's cost of equity?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to the nearest whole number, e$.$g$.,32.$

b$.$ If the firm converts to $25$ percent debt, what will its cost of equity be$?$

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

c$.$ If the firm converts to $45$ percent debt, what will its cost of equity be$?$

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

d$.$ What is the company's WACC in parts $($b$)$ and $($c$)?$

Note: Do not round intermediate calculations and enter your answers as a percent rounded to the nearest whole number, e$.$g$.,32.$