Palenca Paints Corporation has a target capital structure of 30% debt and 70% common equity, with no preferred stock. Its before-tax cost of debt is 13%, and its marginal tax rate 16 404 The current stock price is $34.50. The last dividend was D. - $3.00, and it is expected to grow at a constant rate. What is its cost of common equity and its WACC) Do not round intermediate calculations. Round your answers to two decimal places h. WACC