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 77,500 63.900 141,400 Cash and marketable securities Accounts receivable Inventory Current assets Property, plant, and equipment Deferred taxes Other assets Total 3,400 121,900 126,900 252,200 213,900 46,900 87,100 600, 100 Long-ter debt 210,500 ...200 shareholders' oque 2600.100 Shareholders' equity Total 248,200 600, 100 The debt has just been refinanced at an interest rate of 8.25% (short term) and 10.25% (long term). The expected rate of return on the company's shares is 17.25%. There are 7.65 million shares outstanding, and the shares are trading at 37. 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