Wallet Drug Company has just recently raised money abroad for the first time in the history of the firm. The firm finances $40\%$ of its assets with debt and $60\%$ with equity, has a $30\%$ average tax rate, and can issue bonds at a pre$-$tax rate of $7\%.$ Their standard deviation of returns is roughly $1\mathrm{.}40$ times as great as the market$$s return, and has a correlation with the market of $0\mathrm{.}5.$ If the risk$-$free rate of return is $5\%$ and the expected return on the international market portfolio is $13\%.$

a$)[1$ point$]$ What is the required rate of return on equity of the firm?

b$)[1$ point$]$ What is the firm$$s WACC?