Eric has another get-rich-quick idea, but needs funding to support it. He chooses an all-debt funding scenario. He will borrow $2,745 from Wendy, who will charge him 8% on the loan. He will also borrow $1,834 from Bebe, who will charge him 10% on the loan, and $1,421 from Shelly, who will charge him 16% on the loan. What is the WACC for Eric?

*Please show work!!!