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What is the cost of capital for an otherwise identical

A company has equity with a market value of $22.3 million, debt market value of $11.15 million, the cost of debt is 8% per year. T-bills that mature in one year yield 4 percent per year, and the expected return on the market portfolio is 10%. The beta of Acetate's equity is 1.08. The firm pays no taxes. Debt-equity ratio = .5 Weighted average cost of capital = 9.65%

What is the cost of capital for an otherwise identical all-equity firm?

Please do not round calculations

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