$($Weighted average cost of capital$)$ The target capital structure for Jowers Manufacturing is $52$ percent common stock, $14$ percent preferred stock, and $34$ percent debt. If the cost of common equity for the firm is $20\mathrm{.}6$ percent, the cost of preferred stock is $12\mathrm{.}3$ percent, and the before$-$tax cost of debt is $10\mathrm{.}6$ percent, what is Jowers' cost of capital? The firm's tax rate is $34$ percent.

Jowers' cost of capital is $\%.($Round to three decimal places.$)$