Oisen Outfitters inc. believes that its optimal capital structure consists of 50% common equity and 50% debt, and its tax rate is 25%. Oisen must raise additional capital to fund its upcoming expansion. The firm will have $2 million of retained earnings with a cost of fs=12%. New common stock in an armount up to $9 million would have a cost of re =13.0%. Furthermore, Oisen can raise up to $3 million of debt at an interest rate of fd = 10% and an additional $4 million of debt at rd =14%. The CFO estimates that a proposed expansion jould require an investment of $5.0 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimai places