Ukelele has a total market value of $100 million consisting of 1 million shares selling for $50 per share and $50 million of 10% perpetual bonds now selling at par. The company's EBIT is $13.24 million, and its tax rate is 15%. Ukelele can change its capital structure by either increasing its debt to 70% (based on market values) or decreasing it to 30%, If it decides to increase it , it must call its old bonds and issue new ones with a 12% coupon. If they decide to decrease their leverage they will call its old bonds and issue new ones with an 8% coupon. The company will sell or repurchase stock at the new equilibrium price to complete the capital structure change If Ukelele is a no growth firm, g=0, its current cost of equity is 14% and will decline to 13% or increase to 16% based on their decision, what is the firms WACC and valuation under each scenario