Oisen Outfitters Inc. believes that its optimal capital structure consists of 50% common equity and 50% debt, and its tax rate in 25%. Olsen must raise Hadditional capital to fund its upcoming expansion. The firm will baye $1 million of retained earmings with a cost of rx=13%. New common stock in an amount up to $9 million would have a cost of re=15.0%. Furthermore, Olsen can raise up ta $4 million of debe at an interest rate of rd=11% million of debt at rd=15%. The CFO estimates that a proposed expanslon would require an investment of $5.4 milion. What is the WacC for the last dollar raised to complete the expansion? Round your answer to two decimal places