The Fontenot Companys cost of common equity is 15 percent, its before-tax cost of debt is 11 percent, and its marginal tax rate is 40 percent. The stock sells at book value. Using the following balance sheet, calculate Fontenots WACC.

Assets			Liabilities and Equity
Cash	$ 230
Accounts receivable	210
Inventories	340		Long-term debt	$1,335
Net plant and equipment	2,220		Common equity	1,665
Total assets	$3,000		Total liabilities and equity	$3,000