Problem $18-9$ WACC

Wiliams, Incorporated, has compiled the following information on its financing costs:

$\backslash$table$[[$Type of$,,,,],[$Financing$,$Book Value,Market Value,Cost,$],[$Short$-$term debt,$$14,400,000,$$$13,700,000,3,9\%,],[$Long$-$term debt,$38,000,000,33,800,000,7\mathrm{.}0,],[$Common stock,$11,400,000,90,000,000,12\mathrm{.}8,],[,$$$63,800,000,$$$137,500,000,,],[$Total$,,,,],[,,,,]]$

The company is in the $22$ percent tax bracket and has a target debt$-$equity ratio of $75$ 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$\mathrm{.}9.32\mathrm{.}16.)$

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$\mathrm{.}9.32\mathrm{.}16.)$

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$\mathrm{.}9.,32\mathrm{.}16.)$

$\backslash$table$[[$a$.$ Weighted average cost of capital,,$\%$