WACC The Pawlson Company's year-end balance sheet is shown below. Its cost of common equity is 1690, 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 $1,129. The firm has 576 shares of common stock outstanding that sell for $4.00 per share Assets Liabilities And Equity Cash $ 120 Accounts payable and $ 10 accruals Accounts receivable Inventories Plant and equipment, 240 360 2,160 Short-term debt Long-term debt Common equity 59 1,070 1,741 net Total assets $2,880 Total liabilities and $2,880 equity Calculate Pawlson's WACC using market-value weights. Round your answer to two decimal places Do not round your intermediate calculations