WACC The Pawlson Company's year-end balance sheet is shown below. Its cost of common equity is 17%, its before-tax cost of debt is 9%, 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 $1,112. The firm has 576 shares of common stock outstanding that sell for $4.00 per share Assets Liabilities And Equity Accounts payable and accruals Short-term debt Long-term debt Common equity Total liabilities and equity Cash $ 120 $ 10 Accounts receivable Inventories Plant and equipment, net Total assets 240 360 2,160 $2,880 62 1,050 1,758 $2,880 Calculate Pawlson's WACC using market-value weights. Round your answer to two decimal places. Do not round your intermediate calculations