Eric has another$$ get$-$rich$-$quick idea, but needs funding to support it$.$ He chooses an$$ all$-$debt funding scenario. He will borrow $$$$2,547$ from$$ Wendy, who will charge him $4\%$ on the loan. He will also borrow $$$$1,975$ from$$ Bebe, who will charge him $6\%$ on the$$ loan, and $$$$1,478$ from$$ Shelly, who will charge him $12\%$ on the loan. What is the weighted average cost of capital for$$ Eric?

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