QUESTION 34 The pre-tax cost of debt is 11%, preferred stock costs 13%, and equity costs 16%. What is the weighted average cost of capital assuming a tax rate of 34% and a target capital structure of 60% debt and 10% preferred stock? Important: Please enter your answer with four decimal places (not percentage); for example, if the answer is 0.3412 (34.12%), enter 0.3412 (not 34.12, not 34.12%) as the system does not recognize the percentage