entions WACC The Prison Company's year end balance sheet is shown below. Its cost of common equity is 18%, its before-tax cost of debt is 10%, and its marginal tax rate is 40%. Assume that the firm's long-term debt sels 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 576 shares of common stock outstanding that sel for 54.00 per share. Assets Liabilities And Equity Cash $ 120 Accounts payable and $10 accruals Accounts receivable 240 Short-term debt 56 Inventions 360 Long-term debt 1,150 Punt and equipment, net 2,160 Common equity $2.00 Total liabilities and equity 52.880 Calculate Pawis WACC using market value weights, Round your answer to two decimal places. Do not round your intermediate calculations