Calculate the weighted average cost of capital (WACC) for Company PPP, which has a cost of equity of 12%, a cost of debt of 6%, and a corporate tax rate of 30%. The company's target capital structure consists of 60% equity and 40% debt. Describe the weighted average cost of capital (WACC) as a measure of a company's cost of capital, indicating the average rate of return required by investors to finance its operations. Discuss the significance of WACC in investment analysis and its implications for capital budgeting decisions.