Problem 19-7 WACC The simplified balance sheet for the Dutch manufacturer Rensselaer Felt (figures in thousands) is as follows: Short-term debt Accounts payable Current liabilities 76,600 63,000 139,600 Cash and marketable securities Accounts receivable Inventory Current assets Property, plant, and equipment Deferred taxes Other assets Total 2,500 121,000 126, see 249,5ee 213, eee 46, eee 88,000 596,500 Long-term debt 209,6ee Shareholders' equity Total 247, 300 596,500 The debt has just been refinanced at an Interest rate of 3.50% (short term) and 5.50% (long term). The expected rate of return on the company's shares is 12.50%. There are 7.56 million shares outstanding, and the shares are trading at 56. The tax rate is 25%. Calculate this company's weighed-average cost of capital. (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Weighed-average cost of capital 996