Examine the following book-value balance sheet for University Products Incorporated. The preferred stock currently sells for $15 per share and pays a dividend of $2 a share. The common stock sells for $20 per share and has a beta of 0.8. There are 1 million common shares outstanding. The market risk premium is 10%, the risk-free rate is 6%, and the firms tax rate is 21%.

BOOK-VALUE BALANCE SHEET
(Figures in $ millions)
Assets		Liabilities and Net Worth
Cash and short-term securities	$ 1.0	Bonds, coupon = 8%, paid annually (maturity = 10 years, current yield to maturity = 9%)	$ 10.0
Accounts receivable	3.0	Preferred stock (par value $20 per share)	2.0
Inventories	7.0	Common stock (par value $0.10)	0.1
Plant and equipment	21.0	Additional paid-in stockholders equity	9.9
		Retained earnings	10.0
Total	$ 32.0	Total	$ 32.0

What is the market debt-to-value ratio of the firm?

What is Universitys WACC?

Note: For all the requirements, do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.