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 11%, and its marginal tax rate is 10%. 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 51,115. The firm has 576 shares of common stock outstanding that sell for $1.00 per share. Assets Liabilities And Equity Cash $ 120 Accounts payable and accruals $10 Accounts receivable 240 Short-term debt 55 Inventories 360 Long-term debt 1,060 Plant and equipment, net 2.160 Common equity 1,755 Total assets $2.880 Total liabilities and equity $2,880 Calculiste Paulson's WACC using market value weights. Do not round intermediate calculations. Round your answer to two decimal places 2