eBook The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 15%, its before tax cost of debt is 12%, 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, equa's $1,182. 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 510 Accounts receivable 240 Short-term debt 42 Inventories 360 Long term debe 1,140 Plant and equipment net 2,160 Common equity 1.688 Total assets $2,880 Total abilities and equity $2,880 Calculate Paulson's WACC using market value weights. Do not round Intermediate calculations. Round your answer to two decimal places