The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 17%, its before-tax cost of debt is 11%, and its marginal tax rate is 40%. 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 $1,190. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Assets Cash $ 120 $ 10 Accounts receivable 240 40 Liabilities And Equity Accounts payable and accruals Short-term debt Long-term debt Common equity Total liabilities and equity Inventories 360 1,150 1,680 Plant and equipment, net 2,160 $2,880 Total assets $2,880 Calculate Paulson's WACC using market value weights. Do not round intermediate calculations. Round your answer to two decimal places. 0%