O o Check My Work (2 remaining) eBook o Palencia Paints Corporation has a target capital structure of 45% debt and 55% common equity, with no preferred stock. Its before-tax cost of debt is 12%, and its marginal tax rate is 25%. The current stock price is Po = $23.50. The last dividend was Do - $2.75, and it is expected to grow at a 5% constant rate. What Is its cost of common equity and its WACC? Do not round Intermediate calculations. Round your answers to two decimal places. WACC - %