Concord Corporation is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6310000 on March 1, $5310000 on June 1, and $7950000 on December 31. Concord Corporation borrowed $3150000 on January 1 on a 5-year, 11% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 3- year, $6400000 note payable and an 10%, 4-year, $12450000 note payable. What is the weighted-average interest rate used for interest capitalization purposes? 9.51% 9.66% 10.00% 9.86%