Palmer Motorsports has a new project that will require the company to borrow $3,000,000.Palmer has made an agreement with three lenders for the needed financing. Citizens' Bank will give $1,500,000 and wants 10% interest on the loan. Visitors' Bank will give $1,000,000 and wants 12% interest on the loan. Peoples' Bank will give $500,000 and wants 13% interest on the loan. What is the weighted average cost of capital for this $3,000,000?