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 10%, 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 $1,136. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Liabilities And Equity Assets Accounts payable and accruals Cash $120 $10 Accounts receivable 240 Short-term debt 46 Long-term debt 1,090 Inventories 360 Plant and equipment, net Common equity 2,160 1,734 Total liabilities and equity Total assets $2,880 $2,880 Calculate Paulson's WACC using market-value weights. Do not round intermediate calculations. Round your answer to two decimal places. 34.52 %