The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 18%, 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 $1,197. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Assets Liabilities And Equity Accounts payable and accruals $ 120 240 Short-term debt 360 Long-term debt 2,160 Common equity $2,880 Total liabilities and equity Calculate Paulson's WACC using market-value weights. Do not round intermediate calculations. Round your answer to two decimal places. Cash Accounts receivable Inventories Plant and equipment, net Total assets $ 10 47 1,150 1,673 $2,880