Malkin Corp. has no debt but can borrow at 6.5%. The firm's WACC is currently 9.8%, and the tax rate is 35%.Required:(a) What is Malkin's cost of equity?(b) If the firm converts to 25% debt, what will its cost of equity be?(c)If the firm converts to 50% debt, what will its cost of equit be?(d) What is Malkin's WACC in part (b) and part (c)