Click here to read the eBook: Basic Definitions WACC A Olsen Outfitters Inc. believes that its optimal capital structure consists of 55% common equity and 45% debt, and its tax rate is 40%. Olsen must raise additional capital to fund its upcoming expansion. The firm will have $3 million of retained earnings with a cost of t. -13%. New common stock in an amount up to $9 million would have a cost of -17%. Furthermore, Olsen can raise up to $3 million of debt at an interest rate of ro - 10% and an additional $5 million of debt at -12%. The CFO estimates that a proposed expansion would require an investment of $5.7 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places ed %