The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 15%, its before-tax cost of debt is 9%, 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 $1,180. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Assets Liabilities And Equity Cash 120 Accounts payable and accruals Short-term debt $ 10 60 240 Accounts receivable Inventories 360 Long-term debt 1,120 2,160 1,690 Plant and equipment, net Total assets Common equity Total liabilities and equity $2,880 $2,880 Calculate Paulson's WACC using market value weights. Do not round intermediate calculations. Round your answer to two decimal places