WACC The Pawlson 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 is 40%. 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 $1,173. The firm has 576 shares of common stock outstanding that sell for $4.00 per share Liabilities And Equity Assets Cash $120 Accounts payable and accruals Short-term debt Long-term debt Common equity Total liabilities and equity 10 240 360 2,160 $2,880 63 1,110 1,697 $2,880 Accounts receivable Inventories Plant and equipment, net Total assets Calculate Pawlson's WACC using market-value weights. Round your answer to two decimal places. Do not round your intermediate calculations