Palencia Paints Corporation has a target capital structure of 25% debt and 75% common equity, with no preferred stock. Its before-tax cost of debt is 13%, and its marginal tax rate is 25%. The current stock price is Po = $32.00. The last dividend was Do = $3.50, and it is expected to grow at a 6% constant rate. What is as cost of common equity and its WACC? Do not round intermediate calculations, Round your answers to two decimal places. WACC