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 8%, and its marginal tax rate 25\%. Assume that the firm's fong-term debt selis at par value. The firm's total debt, which is the sum of the company's short-term debt and long-term debt, equals $1,196. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Calculate Paulson's WACC using market-value welghts. Do not round intermediate cavculawons. Round your answer to two decimal places