Palencia paints corporation has a target capital structure, Financial Management

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Palencia paints corporation has a target capital structure

Palencia Paints Corporation has a target capital structure of 35% debt and 65% common equity, with no preferred stock. Its before-tax cost of debt is 12%, and its marginal tax rate is 40%. The current stock price is P₀ = $24.50. The last dividend was D₀ = $2.25, and it is expected to grow at a 4% constant rate. What is its cost of common equity and its WACC? Round your answers to two decimal places. Do not round your intermediate calculations

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