PN Co. currently has no debt but can borrow perpetually at a pre-tax rate of 5.40%. The firms WACC is currently 11.50%, and its tax rate is 35%. a. What is PNs cost of equity? 11.50% b. If the firm converts to 25.0% debt and 75% equity, what will its cost of equity be? 12.82% c. If the firm converts to 50% debt and 50% equity, what will its cost of equity be? 15.47% d. What is PNs WACC if it has 25.0% debt? 50.0% debt? 10.49%; 9.49% e. What would your answers to these questions be if we assume no taxes? 11.50%; 13.53%; 17.60%; 11.50%; 11.50%