The target capital structure for QM Industries is

$3$

$6$

$$percent common

$$

$$stock$,$

$7$

$$percent preferred

$$

$$stock$,$ and

$5$

$7$

$$percent debt. If the cost of common equity for the firm is

$1$

$7$

$.$

$7$

$$

$$

$$

percent

$,$

$$the cost of preferred stock is

$1$

$0$

$.$

$6$

$$

percent

$,$

$$the

$$

$$before

$-$

tax cost of debt is

$7$

$.$

$8$

$$

percent

$,$

$$and the

$$

$$firm$\text{'}$s tax rate is

$3$

$5$

$$

percent

$,$

$$what is

$$

$$QM

$\text{'}$

s weighted average cost of

$$

$$capital$?$ Round to $3$ decimal places