Problem $18-9$ WACC

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

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

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

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

d$.$ Which is the correct WACC to use for project evaluation?

Target weights

Book weights

Market weights