Williams, Inc., has compiled the following information on its financing costs:

Type of Financing	Book Value			Market Value			Cost
Short-term debt	$	15,200,000		$	14,100,000		4.3	%
Long-term debt		44,000,000			37,400,000		7.4
Common stock		12,200,000			102,000,000		13.2
Total	$	71,400,000		$	153,500,000

The company is in the 21 percent tax bracket and has a target debt-equity ratio of 75 percent. The target short-term debt/long-term debt ratio is 15 percent.

a.	What is the companys weighted average cost of capital using book value weights? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
b.	What is the companys weighted average cost of capital using market value weights? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
c.	What is the companys weighted average cost of capital using target capital structure weights? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)