eBook The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 16%, 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 lang-term debt, equals $1,170. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Assets Liabilities And Equity $ 120 Accounts payable and accruals $ 10 Accounts receivable 240 Short-term debt 60 Inventories Long-term debt 1,110 Plant and equipment, net 2,160 Common equity $2,880 Total liabilities and equity $2,880 Calculate Paulson's WACC using market value weights. Do not round Intermediate calculations. Round your answer to two decimal places. Cash 360 1,700 Total assets