Welling Inc. has a target debt-equity ratio of 1.25. Its WACC is 9.2 percent, and the tax rate is 35 percent.

a. If Wellings cost of equity is 14 percent, what is its pre-tax cost of debt? (Round your answer to 2 decimal places. (e.g., 32.16))

b. If instead you know that the after-tax cost of debt is 6.8 percent, what is the cost of equity? (Round your answer to 2 decimal places. (e.g., 32.16))