please answer both, they go toghther

its current market value, what is the present value of the tax shield it will create? The present value of the tax shield is { billion. (Round to two decimal places.) Suppose Microsoft has no debt and a WACC of 9.3%. The average debt-to-value ratio for the software industry is 7.1%. What would be its cost of equity if it took on the average amount of debt for its industry at a cost of debt of 6.4% ? The cost of equity is \%. (Round to two decimal places.)