ABC Companys cost of equity is 18%, its before-tax cost of debt is 8%, and its corporate tax rate is 40%. Given the following balance sheet, calculate the after-tax weighted-average cost of capital.

Assets			Liabilities
Cash	P 100		Accounts payable	P 200
Accounts Receivable	400		Accrued taxes due	200
Inventories	200		Long-term debt	400
Plant & equipment	1,300		Equity	1,200
	P2,000			P2,000