Palencia Paints Corporation has a target capital structure of $35\%$ debt and $65\%$ common equity, with no preferred stock. Its before$-$tax cost of debt is $13\%,$ and its marginal tax rate is $40\%.$ The current stock price is P$0=$ $$28\mathrm{.}50.$ The last dividend was D$0=$ $$2\mathrm{.}50,$ and it is expected to grow at a $5\%$ constant rate. What is its cost of common equity and its WACC? Round your answers to two decimal places. Do not round your intermediate calculations.

rs $=$

$\%$

WACC $=$

$\%$