Whispering Pines, Inc., is all-equity-financed. The expected rate of return on the company's shares is 14.35%. a. What is the opportunity cost of capital for an average-risk Whispering Pines investment? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Cost of capital 14.35 % b. Suppose the company issues debt, repurchases shares, and moves to a 32% debt-to-value ratio (DIV = .32). What will be the company's weighted average cost of capital at the new capital structure? The borrowing rate is 9.40% and the tax rate is 34%. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Weighted average cost of capital %