Williams, Inc., has compiled the following information on its financing costs: Type of Financing Book Value Market Value Cost Short-term debt $ 13,200,000 $ 13,100,000 3.3 % Long-term debt 29,000,000 28,400,000 6.4 Common stock 10,200,000 72,000,000 12.2 Total $ 52,400,000 $ 113,500,000 The company is in the 21 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 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.) d. Which is the correct WACC to use for project evaluation? Book weights Market weights Target weights