The Paulson Company's year-end balance sheet is shown below. Its cost of common equity is 18%, its before-tax cost of de

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The Paulson Company's year-end balance sheet is shown below. Its
cost of common equity is 18%, its before-tax cost of debt is 11%,
and its marginal tax rate is 25%. 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 $1,173.
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 accruals $ 10 Accounts receivable 240 Short-term debt
43 Inventories 360 Long-term debt 1,130 Plant and equipment, net
2,160 Common equity 1,697 Total assets $2,880 Total liabilities and
equity $2,880 Calculate Paulson's WACC using market-value weights.
Do not round intermediate calculations. Round your answer to two
decimal places.
WACC = ____%?