Spam Corporation is financed entirely by common stock and has a beta of $1\mathrm{.}35.$ The firm is expected to generate a level, perpetual

stream of earnings and dividends. The stock has a price$-$earnings ratio of $8\mathrm{.}10$ and a cost of equity of $12\mathrm{.}35\%.$ The company's stock is

selling for $$38.$ 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 $3\mathrm{.}5\%.$ 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.