The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 15%, its before-tax cost of debt is 12%, 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 $1,113. The firm has 576 shares of common stock outstanding that sell for $4.00 per share.

AssetsLiabilities And EquityCash$ 120Accounts payable and accruals$ 10Accounts receivable240Short-term debt63Inventories360Long-term debt1,050Plant and equipment, net2,160Common equity1,757Total assets$2,880Total 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.