You have the following information about Burgundy Basins, a sink manufacturer.

Equity shares outstanding		20	million
Stock price per share	$	44
Yield to maturity on debt		5.5	%
Book value of interest-bearing debt	$	375	million
Coupon interest rate on debt		4.9	%
Market value of debt	$	270	million
Book value of equity	$	460	million
Cost of equity capital		12.8	%
Tax rate		35	%

Burgundy is contemplating what for the company is an average-risk investment costing $48 million and promising an annual ATCF of $5.4 million in perpetuity.

a. What is the internal rate of return on the investment? (Round your answer to 2 decimal places.)

b. What is Burgundy's weighted-average cost of capital? (Round your answer to 2 decimal places.)