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 9%, 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 $1,197. 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. X Open spreadsheet Cash $ 120 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 Accounts payable and $ 10 accruals Accounts receivable Short-term debt Inventories Long-term debt Plant and equipment, net 2,160 240 47 360 $1,150 Common equity 1,673 Total assets $2,800 Total liabilities and equity $2,880