Olsen Outfitters Inc. believes that its optimal capital structure consists of $70\%$ common equity and $30\%$ debt, and its tax rate is $40\%.$ Olsen must raise additional capital to fund its upcoming expansion. The firm will have $$4$ million of retained earnings with a cost of rs $=10\%.$ New common stock in an amount up to $$9$ million would have a cost of re $=11\mathrm{.}0\%.$ Furthermore, Olsen can raise up to $$4$ million of debt at an interest rate of rd $=9\%$ and an additional $$4$ million of debt at rd $=12\%.$ The CFO estimates that a proposed expansion would require an investment of $$7\mathrm{.}0$ million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places.