Your boss, whose background is in financial planning, is concerned about the companys high weighted average cost of capital (WACC) of 24%. He has asked you to determine what combination of debt-equity financing would lower the companys WACC to 16%. If the cost of the companys equity capital is 6% and the cost of debt financing is 27%, what debt-equity mix would you recommend?

The debt-equity mix should be____ % debt and____ % equity financing.