(Weighted average cost of capital) The target capital structure for QM Industries is 37 percent common stock, 8 percent preferred stock, and 54...

(Weighted average cost of capital) The target capital structure for QM Industries is 37 percent common stock, 8 percent preferred stock, and 54 percent debt. If the cost of common equity for the firm is 17.6 percent, the cost of preferred stock is 10.6 percent, the before-tax cost of debt is 7.7 percent, and the firm's tax rate is 34 percent, what is QM's weighted average cost of capital?