Williams, Inc., has compiled the following information on its financing costs: 19 Type of Financing Short-term debt $12,400,00O $ 12,700,000 Long-term debt Common stock Book Value Market Value Cost 2.9% 6.0 23,000,000 24,800,000 9,400,000 3.03 60,000,000 11.8 points $44,800,000 $97,500,000 Total 02:34:47 The company is in the 22 percent tax bracket and has a target debt-equity ratio of 65 percent. The target short-term debt/long-term debt ratio is 15 percent. a. What is the company's 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 company's 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 company's 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.) Weighted average cost of capital a. b. Weighted average cost of capital Weighted average cost of capital C. d. Which is the correct WACC to use for project evaluation? O Target weights Book weights Market weights