Tres Ys Company currently does not use any debt at all it is an all-equity firm). The firm has three million shares selling for $28 per share. Its beta is 1.3, and the current risk-free rate is 2.1%. The expected return on the market for the coming year is 9.6%. Tres Ys will sell $28000000 in corporate bonds with a $1,000 par value. Tres Ys will use all the proceeds of the bond sale to retire shares. The bonds are twenty-year semiannual bonds with a coupon rate 10%. The bonds have a yield to maturity of 10%. When the bonds are sold, the beta of the company will increase to 1.6. What was the WACC of Tres Ys Company before the bond sale? What is the adjusted WACC of Tres Ys Company after the bond sale if the corporate tax rate is 30%? Hint: start with the all-equity capital structure and consider how it changes with the bond sale. What was the WACC of Tres Ys Company before the bond sale? % (Round to two decimal places.) What is the adjusted WACC of Tres Ys Company after the bond sale if the corporate tax rate is 30%? % (Round to two decimal places.)