please answer both parts, thanks in advance

E eBook Olsen Outfitters Inc. believes that its optimal capital structure consists of 70% common equity and 30% debt, and its tax rate is 25%. Olsen must raise additional capital to fund its upcoming expansion. The firm will have $2 million of retained earnings with a cost of rs = 10%. New common stock in an amount up to $6 million would have a cost of re 11.5%. Furthermore, Olsen can raise up to $4 million of debt at an interest rate of ra 11% and an additional $5 million of debt at ra 15%. The CFO estimates that a proposed expansion would require an investment of $9.0 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places. % eBook Problem Walk-Through Banyan Co.'s common stock currently sells for $34.25 per share. The growth rate is a constant 6%, and the company has an expected dividend yield of 2%. The expected long-run dividend payout ratio is 40%, and the expected return on equity (ROE) is 10.0 %. New stock can be sold to the public at the current price, but a flotation cost of 5% would be incurred. What would be the cost of new equity? Do not round intermediate calculations. Round your answer to two decimal places