Related to Checkpoint 14.1) (Weighted average cost of capital) The target capital structure for QM Industries is 43 percent common stock, 12 percent prefered stock, and 45 percent debt. If the cost of common equity for the firm is 17.7 percent, the cost of preferred stock is 9.6 percent, the before-tax cost of debt is 7.2 percent, and the firm's tax rate is 35 percent, what is QM's weighted average oost of capital? OMs weighted average cost of capital is L196. (Round to three decimal places.)