7 Jones Company has a target capital structure of 30% debt, 10% preferred stock, and 60% common equity. The company's before-tax cost of debt is 10%, its cost of preferred stock is 12%, and its cost of new common stock is 20%. Assuming the company's marginal tax rate is 25%, what is the company's weighted average cost of capital? (Please Show Work) Please show step by step with the formula needed to slove problem not using excel