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Jensen Motorsports has a new project that will require the company to borrow $4 million. The company will borrow $1.5 million from Citizens' Bank at

Jensen Motorsports has a new project that will require the company to borrow $4 million. The company will borrow $1.5 million from Citizens' Bank at 11% interest, $2 million from Philadelphia Bank at 10% interest, and $ 0.5 million from Howard Bank at 13% interest. If you ignore the effect on taxes, what is the weighted average cost of capital for this project?

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