The target capital structure for QM Industries is 43 percent common? stock, 8 percent preferred stock, and 49 percent debt. If the cost of common equity for the firm is18.3 percent, the cost of preferred stock is 10.2 percent, the before-tax cost of debt is 8.1 percent, and the firm's tax rate is 35 percent, what is QM's weighted average cost of capital?
Round three decimal places