Killer Burgers' capital structure consists of $30$ percent debt,

$20$ percent preferred stock, and $50$ percent common stock. If Killer

raises new capital, its$$after$-$tax$$cost of debt

will be $4\mathrm{.}5$ percent, its cost of preferred stock will be $7$ 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 $$280,000.$

If management expects the firm to generate $$130,000$ 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.$\%$