12) )Compute the July 2014 cost of capital (rounded to nearest percent) for an investment center with the following information:

Pre-tax operating income for July 2014 $15,500,000

Assets at July 31, 2014 $8,200,000

Current liabilities at July 31, 2014 $3,200,000

Long-term liabilities at July 31, 2014 $2,200,000

Income tax expense for July 31, 2014 $5,500,000

EVA $9,500,000