A company's year-end balance sheet is shown on the WACC tab of the attached Excel sheet. Its cost of common equity is 17%, its before-tax cost of debt is 8%, and its marginal tax rate is 21%. 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 $1,200. The firm has 700 shares of common stock outstanding that sell for $5.00 per share. What is the WACC, calculated using market-value weights? 12.84