Patton Paints Corporation has a target capital structure of 37.60% debt and 62.40% common equity, with no preferred stock. Its before-tax cost of debt is 8.80%, and its marginal tax rate is 30.00%. The current stock price is $24.50. The last dividend was $2.60, and it is expected to grow at a 5.90% constant rate. a) What is its cost of common equity? b) What is its WACC? a)17.14%; b)14.00% a)16.51%; b)13.61% a)17.14%; b)13.01% a)10.61%; b)8.94% a)16.51%; b)12.62%