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Olsen Outfitters Inc. betieves that its optimal capital structure conssts of 65% common equity ond 35% debt, and its tax rate is 25%. Olsen must raise additional capital to fund its upcoming expansion. The firm will hove $2 mallion of retained oarnings with a cost of ry =12%. New comenon stock in an amount up to $8 million would have a cost of T4=13.5%. Furthermore, Olsen can raise up to s4 million of debt at an interest nate of fo a 94 and an additional $4 million of debt at rd=13%. The CFO estimeten that a proposed eppansion would reguire un imestrient of 34.2 mition, What is the Wacc for the lask dollar raised to compiete the expansion? Raund your anewer to two decimal places