Use the following information to answer the questions. Quenton Inc., has 18,000 bonds with a 6.3 percent coupon outstanding, $1,000 par value, 23 years to maturity, selling for 98 percent of par; the bonds make semiannual payments. The companys tax rate is 30 percent. The company has 450,000 shares of common stock outstanding, selling for $74 per share; the beta is 1.09. The risk premium is 9.5 percent and the risk-free rate is 2.5 percent. The company also has 35,000 shares of 2.8 percent preferred stock outstanding, currently selling for $65 per share.

What is Quenton's WACC? (answer in percent form ie 5.55%)

What is the cost of equity? (answer in percent form ie 5.55%)