A firm expects its EBIT to be $171,000 every year, in perpetuity. The company is currently unlevered with a cost of equity of 19%. It faces a tax rate of 23%. The firm plans to borrow $165,000 and use the proceeds to repurchase shares. If the firm's cost of borrowing is 12%, what is its WACC after the recapitalization

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?