Compare Trout, Inc. with Salmon Enterprises, using the balance sheet of Trout and the market data of Salmon for the weights in the weighted average cost of capital:

Current assets 1,111,111 Long-term assets 3,888,889 Total assets 5,000,000 Current liabilities 569,507 Long-term liabilities 3,068,303 Owners' equity 1,362,190

If the after-tax cost of debt is 9.3% for both companies and the cost of equity is 15.44%, which company has the higher WACC?