Dakota Drilling Inc. $($DD$)$ has a new project that will require the company to borrow $$5,000,000.$ MM has made an agreement with three lenders for the needed financing. First National Bank will give $$1,000,000$ and wants $6\%$ interest on the loan. Texas Bank will give $$3,000,000$ and wants $7\%$ interest on the loan. Chase Bank will give $$1,000,000$ and wants $8\%$ interest on the loan. What is the weighted average cost of capital for this $$5,000,000?$