1. (Weighted average cost of capital) The target capital structure for QM Industries is 42% common stock, 7% preferred stock,...

1. (Weighted average cost of capital) The target capital structure for QM Industries is 42% common stock, 7% preferred stock, and 51% debt. If the cost of common equity for the firm is 18.2%, the cost of preferred stock is 10.4%, the before-tax cost of debt is 8.8%, and the firm’s tax rate is 35%, what is QM’s weighted average cost of capital? Qm’s WACC is % (Round to 3 decimal places)