The Paulson Company's year$-$end balance sheet is shown below. Its cost of common equity is $14\%,$ its before$-$tax cost of debt is $10\%,$ and its marginal tax rate is $25\%.$ Assume that the firm's long$-$term debt sells at par value. The firm$$s total debt, which is the sum of the company$$s short$-$term debt and long$-$term debt, equals $$1,200.$ The firm has $576$ shares of common stock outstanding that sell for $$4\mathrm{.}00$ per share.

Assets Liabilities And Equity

Cash $ $120$ Accounts payable and accruals $ $10$

Accounts receivable $240$ Short$-$term debt $60$

Inventories $360$ Long$-$term debt $1,140$

Plant and equipment, net $2,160$ Common equity $1,670$

Total assets $$2,880$ Total liabilities and equity $$2,880$

Calculate Paulson's WACC using market$-$value weights. Do not round intermediate calculations. Round your answer to two decimal places.

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