Question: The Patrick Company's year end balance sheet is shown below. Its cost of common equity is 16%, its before tax cost of debt is 9%,

The Patrick Company's year end balance sheet is shown below. Its cost of common equity is 16%, its before tax cost of debt is 9%, and its marginal tax rate is 40%. 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, 199. The firm has 576 shares o1 common stock outstanding that sell for $4.00 per share, calculate Patrick's WACC using market value weights
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