Metlock Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were 51.5 miltion on March 1, $1.2 mittion on fune 1, and $4 million on December 31 . Metlock Company borrowed $1.1 million on March 1 on a five-vear, 12% note to help finance the building construction. In addition, the company had outstanding all year a $3 million, five-year, 15% note payable and a $3.4-million, four-year, 16% note payable. Calculate the approphate capitalization rate on general borrowings that would be used for capitalization of borrowing costs. (Round anwer to 2 decimal ploces, es. 52.75\%) Capitalization rate