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 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 $1,127. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Liabilities And Equity Assets Cash Accounts payable and accruals 10 $120 Accounts receivable Short-term debt 57 240 Long-term debt 360 1,070 Plant and equipment, net 2,160 Common equity 1,743 Total liabilities and equity Total assets $2,880 $2,880 Calculate Paulson's WACC using market-value weights. Do not round intermediate calculations. Round your answer to two decimal places