The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 16%, its before-tax cost of debt is 12%, and its marginal tax rate is 40%. Assume that the firm's long-term debt sells at par value. The firms total debt, which is the sum of the companys short-term debt and long-term debt, equals $1,158. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

Open spreadsheet

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

Assets			Liabilities And Equity
Cash	$ 120		Accounts payable and accruals	$ 10
Accounts receivable	240		Short-term debt	58
Inventories	360		Long-term debt	$1,100
Plant and equipment, net	2,160		Common equity	1,712
Total assets	$2,880		Total liabilities and equity	$2,880

fill in the blank %?

WACC 16.00% Cost of common equity (rs) Before-tax cost of debt (ra) Marginal tax rate (T) Common shares outstanding Current stock price Long-term debt sells at par value 12.00% 40.00% 576 $4.00 Yes Balance Sheet: Assets Cash Account receivable Inventories Plant and equipment, net Total assets $120.00 $240.00 $360.00 $2,160.00 $2,880.00 Liabilities and Equity Accounts payable and accruals Short-term debt Long-term debt Common equity Total liabilities and equity $10.00 $58.00 $1,100.00 $1,712.00 $2,880.00