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 11%, 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 $1,090. 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.

WACC
Cost of common equity (rs)	18.00%
Before-tax cost of debt (rd)	11.00%
Marginal tax rate (T)	40.00%
Common shares outstanding	576
Current stock price	$4.00
Long-term debt sells at par value	Yes
Balance Sheet:
Assets			Liabilities and Equity
Cash	$120.00		Accounts payable and accruals	$10.00
Account receivable	$240.00		Short-term debt	$40.00
Inventories	$360.00		Long-term debt	$1,050.00
Plant and equipment, net	$2,160.00		Common equity	$1,780.00
Total assets	$2,880.00		Total liabilities and equity	$2,880.00
			Formulas
Market value of total debt			#N/A
Market value of common equity			#N/A
Total capital			#N/A
Percentage of debt			#N/A
Percentage of common equity			#N/A
After-tax cost of debt			#N/A
Weighted Average Cost of Capital (WACC)			#N/A

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	40
Inventories	360		Long-term debt	$1,050
Plant and equipment, net	2,160		Common equity	1,780
Total assets	$2,880		Total liabilities and equity	$2,880