Problem 19.7 WACC The simplified balance sheet for the Dutch manufacturer Rensselaer Felt (figures in thousands) is as follows: 2,300 120,800 125,800 248,900 212,800 Short-term debt Accounts payable Current liabilities Cash and marketable securities Accounts receivable Inventory Current assets Property, plant, and equipment Deferred taxes Other assets Total 76,400 62,800 139,200 Long-term debt 209,400 45,800 88, 200 595,700 Shareholders' equity Total 247, 100 595,700 The debt has just been refinanced at an interest rate of 4.00% (short term) and 6.00% (long term). The expected rate of return on the company's shares is 13.00%. There are 7.54 million shares outstanding, and the shares are trading at 54. The tax rate is 25%. Calculate this company's weighed-average cost of capital. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Weighed-average cost of capital %