Spam Corporation is financed entirely by common stock and has a beta of 1.60 . The firm is expected to generate a level, perpetual stream of earnings and dividends. The stock has a price-earnings ratio of 7.60 and a cost of equity of 13.16%. The company's stock is selling for $28. Now the firm decides to repurchase half of its shares and substitute an equal value of debt. The debt is risk-free, with an interest rate of 6%. The company is exempt from corporate income taxes. Assume MM are correct. a. Calculate the cost of equity after the refinancing. Note: Enter your answer as a percent rounded to 2 decimal places. b. Calculate the overall cost of capital (WACC) after the refinancing. Note: Enter your answer as a percent rounded to 2 decimal places. c. Calculate the price-earnings ratio after the refinancing. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. d. Calculate the stock price after the refinancing. e. Calculate the stock's beta after the refinancing. Note: Round your answer to 1 decimal place