The Paulson Company's yearend balance sheet is shown below. Its cost of common equity is 17%, its before tax cost of debt is 12%, and its marginal tax rate is 25% Assume that the firm's longterm debt sells at par value. The firm's total debt, which is the sum of the company's short-term debt and longterm debtequals $1.179The firm has 576 shares of common stock outstanding that sell for $4.00 per share.

The Paulson Company's year-end balance shent is shown befow. Its cost of common equity is 17.3, its before-tax cost of debt is 12%, 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 cornpany's short term debt and long-term debt, equals $1, i79. The firm has 576 chares of common stock eutstanding that sell for \$4.00 per share. Calcutite Paulvoris's WACC using market-value weighte. Do not round intermediate calculationit. fround your answer to two decimal places