The simplified balance sheet for Rensselaer Felt (in thousands) is as follows $76,500 Cash and marketable securities Accounts receivable Inventory Current assets Property, plant, and equipment $2.400 Short-term debt 120,900 Accounts payable 125.900 Current liabilities $139,400 04,700 Long-term debt 209,500 45,900 247,200 $642,000 Deferred taxes Other assets Total 88,100 Shareholders' equity $642,000 Total The debt has an interest rate of 3.75% (short term) and 5.75% (long term). The expected rate of return on the company's shares is 12.75%. There are 7.55 million shares outstanding, and the shares are trading at $55 The tax rate is 40% Assume the company issues $50 million in new equity and uses the proceeds to retire long-term debt. Also assume the the company's borrowing rates are unchanged and the short-term debt is permanent. Calculate the cost of equity after the capital restructuring. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Cost of equity Calculate the WACC after the capital restructuring. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) WACC