Examine the following book value balance sheet for University Products Inc. The preferred stock currently sells for $15 per share and pays a dividend of $3 a share. The common stock sells for $16 per share and has a beta of 0.6. There are 3 million common shares outstanding. The market risk premium is 10%, the risk-free rate is 6%, and the firm's tax rate is 21% Assets Cash and short-term securities Accounts receivable Inventories Plant and equipment $ 1.0 5.0 9.9 20.0 BOOK-VALUE BALANCE SHEET (Elgures in 5 millions) Liabilities and Net Worth Bonds, coupon - 7%, paid annually (maturity 10 years, current yield to maturity 3*) Preferred stock (par value $10 per share) Common stock (par value $0.10) Additional paid in stockholders equity Retained earnings Total $10.0 3.0 0.3 11.7 10. $35.0 Total $35.0 o. What is the market debt-to-value ratio of the firm? b. What is University's WACC? (For all the requirements, do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) a Market debt-to-value ratio WACC b