(Weighted average cost of? capital) The target capital structure for QM Industries is 45% ordinary? shares, 9% preference? shares, and 46% debt. If the cost of ordinary equity for the firm is 19.4%, the cost of preference shares is 11.8%, the? before-tax cost of debt is 9.0%, and the? firm's tax rate is 30%,
QM's weighted average cost of capital is ____%. ?(Round to three decimal? places)