The Paulson Company's year$-$end balance sheet is shown below. Its cost of common equity is $18\%,$ its before$-$tax cost of debt is $11\%,$ 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 $$1,142.$ The firm has $576$ shares of common stock outstanding that sell for $$4\mathrm{.}00$ per share.

Assets

Liabilities And Equity

Accounts payable and accruals $$10$

Short$-$term debt $42$

Long$-$term debt $,1,100$

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