Olsen Outfitters Inc, believes that its optimal capital structure consists of 65% common equity and 35% debt, and its tax rate is 40%. Olen must raise additional capital to fund its upcoming expansion. The firm will have $2 million of retained earnings with a cost of -13%. New common stock in an amount up to $6 million would have a cost ofre -14,5%. Furthermore, Olsen can raise up to $4 million of debt at an interest rate of ra - 10% and an additional $3 million of debt - 13%. The CFO estimates that a proposed expansion would require an investment of 56.5 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places 9