(Related to Checkpoint 14.1) (Weighted average cost of capital) The target capital structure for QM Industries is 42 percent common stock, 7 percent preferred stock, and 51 percent debt. If the cost of capital? common equity for the firm is 17.4 percent, the cost of preferred stock is 9.9 percent, the before-tax cost of debt is 7.6 percent, and the firm's tax rate is 35 percent, what is QM's weighted average cost of QMS weighted average cost of capital is % (Round to three decimal places.)