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 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 $1,117. The firm has 576 shares of common stock outstanding that sell for $4.00 per share.

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