Hanson Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,812,000 on March 1, $1,224,000 on June 1, and $3,050,700 on December 31. Hanson Company borrowed $1,028,000 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,270,100 note payable and an 11%, 4-year, $3,539,000 note payable. Compute the weighted-average interest rate used for interest capitalization purposes.