The following table gives Foust Company's earnings per share for the last $10$ years. The common stock, $7\mathrm{.}3$ million shares outstanding, is now $(1/1/22)$ selling for $$55\mathrm{.}00$ per share. The expected dividend at the end of the current year $(12/31/22)$ is $65\%$ of the $2021$ 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.$)$

Year EPS Year EPS

$2012$ $$3\mathrm{.}902017$ $$5\mathrm{.}73$

$20134\mathrm{.}2120186\mathrm{.}19$

$20144\mathrm{.}5520196\mathrm{.}68$

$20154\mathrm{.}9120207\mathrm{.}22$

$20165\mathrm{.}3120217\mathrm{.}80$

The current interest rate on new debt is $12\%$; Foust's marginal tax rate is $25\%$; and its target capital structure is $35\%$ debt and $65\%$ equity.

Calculate Foust's after$-$tax cost of debt. Round your answer to two decimal places.

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Calculate Foust's cost of common equity. Calculate the cost of equity as rs $=$ D$1/$P$0+$ g$.$ Do not round intermediate calculations. Round your answer to two decimal places.

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Find Foust's WACC. Do not round intermediate calculations. Round your answer to two decimal places.

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