WACC. A different firm is financed with 70% common equity and 30% debt. The firm does not have sufficient retained earnings and is therefore issuing new common stock. Its cost of equity from retained earnings is 9% and its cost of equity from new common stock is 10%. Its cost of debt is 5%. What is its WACC? (Hint: If the firm is issuing new common stock in addition to using retained earnings, what cost of equity is relevant to the next dollar of capital raised?) ENTER WITHOUT PERCENT SIGN to two decimal places; For example, for 7.24% enter 7.24