The Corporation wants to have a weighted average cost of capital of 11.5 percent. The firm has a before tax cost of debt of 7.8 percent and a cost of equity of 13.95 percent. The corporate tax rate is 34%. What debt-equity ratio is needed for the firm to achieve its targeted weighted average cost of capital?

Select one: a. 72.16% b. 38.58% c. 27.84% d. 61.42%