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Williams, Inc., has compiled the following information on itsfinancing costs: Type of FinancingBook ValueMarket ValueCost Short-term debt$12,400,000$12,700,0002.9% Long-term debt23,000,00024,800,0006.0 Common stock9,400,00060,000,00011.8 Total$44,800,000$97,500,000 The company is in the 22 percent tax bracket and has a targetdebt-equity ratio of 65 percent. The target short-termdebt/long-term debt ratio is 15 percent. a.What is the company’s weighted average cost of capital usingbook value weights? (Do not round intermediate calculationsand enter your answer as a percent rounded to 2 decimal places,e.g., 32.16.)b.What is the company’s weighted average cost of capital usingmarket value weights? (Do not round intermediatecalculations and enter your answer as a percent rounded to 2decimal places, e.g., 32.16.)c.What is the company’s weighted average cost of capital usingtarget capital structure weights? (Do not roundintermediate calculations and enter your answer as a percentrounded to 2 decimal places, e.g., 32.16.) d.Which is the correct WACC to use for project evaluation? Target weightsMarket weightsBook weights