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The following table gives Foust Company's earnings per share for the last 10 years. The common stock, 8.2 million shares outstanding, is now (1/1/20) selling for $80.00 per share. The expected dividend at the end of the current year (12/31/20) is 45% of the 2019 EPS. Because investors expect past trends to continue, g may be based on the historical earnings growth rate. (Note that 9 years of growth are reflected in the 10 years of data.) EPS Year $3,90 2015 4.21 2016 4.55 2017 2013 4.91 2018 2014 5.31 2019 The current interest rate on new debt is 9%; Foust's marginal tax rate is 25%; and its target capital structure is 60% debt and 40% equity. a. Calculate Foust's after-tax cost of debt. Round your answer to two decimal places. % % Year 2010 2011 2012 EPS $5.73 6.19 6.68 Calculate Foust's cost of common equity. Calculate the cost of equity as r,- Di/Po+g. Do not round intermediate calculations. Round your answer to two decimal places % 7.22 7.80 b. Find Foust's WACC. Do not round intermediate calculations. Round your answer to two decimal places