Posted: April 6th, 2019

U. Memphis COURSE FIR 3410 The Patrick Company’s year-end balance sheet is shown below.

WACCThe Patrick Agency’s year-end stability sheet is confirmed beneath. Its value of frequent equity is 18%, its before-tax value of debt is 11%, and its marginal tax payment is 40%. Assume that the company’s long-term debt sells at par value. The firm’s full debt, which is the sum of the company’s short-term debt and long-term debt, equals $1,098. The company has 576 shares of frequent stock glorious that promote for $4.00 per share. Calculate Patrick’s WACC using market value weights. Spherical your reply to 2 decimal areas.AssetsLiabilities And EquityCash$ 120Accounts payable and accruals$ 10Accounts receivable240Temporary-term debt48Inventories360Prolonged-term debt$1,050Plant and kit, net2,160Frequent equity1,772Entire property$2,880Entire liabilities and equity$2,880 %

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