Document1-Word References Mailings Review View Help Tell me what l Chart A+ Screenshot" Link | Bookmark Store D Header Footer My Add-ins.wikipedia Online Video Comment Page Number Comments Header & Footer Cross-reference Add-ins Media Links The December 31, 2015, partial balance sheet of 3M Company follows ($ millions except per share amounts). YCharts.com reported that the total market capitalization of 3M was $94.14 billion and its stock price was $152.89 as of December 31, 2015. Also YCharts.com estimates its total enterprise value at $103.67 billion, and its market beta at 1.17 3M's average pretax borrowing cost is 1 496, and its assumed statutory tax rate is 37% Assume that the risk-free rate equals 2.5% and the market premium equals 5% (e) Compute 3M's cost of debt capital. (Round your answer to one decimal place.)