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

Type of Financing	Book Value			Market Value			Cost
Short-term debt	$	13,400,000		$	13,200,000		3.4	%
Long-term debt		30,500,000			29,300,000		6.5
Common stock		10,400,000			75,000,000		12.3
Total	$	54,300,000		$	117,500,000

The company is in the 22 percent tax bracket and has a target debt-equity ratio of 70 percent. The target short-term debt/long-term debt ratio is 10 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.)