Killer Burgers' capital structure consists of $20$ percent debt, $30$ percent preferred stock, and $50$ percent common stock. If Killer raises new capital, its after$-$tax cost of debt will be $3\mathrm{.}5$ percent, its cost of preferred stock will be $9$ percent, its cost of retained earnings will be $12\mathrm{.}6$ percent, and its cost of new common equity will be $14\mathrm{.}6$ percent. Killer must raise $$120,000.$ If management expects the firm to generate $$55,000$ in retained earnings this year, what is Killer's marginal cost of capital to raise the needed funds? Round your answer to two decimal places.