WACC The Pawlson Company's year-end balance sheet is shown below. Its cost of common equity is 15% its before-tax cost of debt is 12% 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 $1,182. The firm has 576 shares of common stock outstanding that sell for $4.00 per share. Assets Liabilities And Equity Cash accruals Accounts receivable Inventories Plant and equipment, net Total assets 42 1,140 1,688 $2,880 360Long-term debt 2,160 Common equity $2,880Total liabilities and equity Calculate Pawlson's WACC using market-value weights. Round your answer to two decimal places. Do not round your intermediate calculations