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 11%, and its marginal tax rate is 25\%. The current stock price is P0=$28.50. The last dividend was D0=$2.50, and it is expected to grow at a 5% constant rate. What is its cost of common equity and its WACC Do net round intermediote calculations. Round your answers to two decimal places