240 40 The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 17%, its before-tax cost of debt is 10% and its marginal tax rate is 25%. Assume that the firm's long-term debt sells at par value. The firm's total debt, which is the sum of the company's short-term debt and long-term debt, equals $1,120. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Assets Liabilities And Equity Cash $ 120 Accounts payable and accruals $ 10 Accounts receivable Short-term debt Inventories Long-term debt 1,080 Plant and equipment, net 2,160 Common equity 1,750 Total assets 2,880 Total liabilities and equity 880 Calculate Paulson's WACC using market value weights. Do not round intermediate calculations. Round your answer to two decimal places. 10 360 %