Palencia 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 11%, and its marginal tax rate is 25. The current stock price is Po = $29.50. The last dividend was Dy = $3.00, and it is expected to grow at a 4% constant rate. What is its cost of common equity and its WACCP Do not round Intermediate calculations. Round your answers to two decimal places WACC