eBook Olsen Outfitters Inc. believes that its optimal capital structure consists of 65% common equity and 35 % debt , and its tax rate is 25%. Olsen must raise additional capital to fund its upcoming expansion. The firm will have $1 million of retained earnings with a cost of rs 13 %. New common stock in an amount up to $10 million would have a cost of re 14.5 % . Furthermore, Olsen can raise up.to $3 million of debt at an interest rate of rd 9% and an additional $3 million of debt at rd 13%. The CFO estimates that a proposed expansion would reqdire an investment of $3.2 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places. %