Pronghorn Company is constructing a building. Construction began on February $1$ and

was completed on December $31.$ Expenditures were $$1,932,000$ on March $1,$

$$1,212,000$ on June $1,$ and $$3,037,690$ on December $31.$

Pronghorn Company borrowed $$1,168,790$ on March $1$ on a $5-$year, $12\%$ note to help

finance construction of the building. In addition, the company had outstanding all year

a $9\%,5-$year, $$2,022,900$ note payable and an $10\%,4-$year, $$3,737,800$ note payable.

Compute the weighted$-$average interest rate used for interest capitalization purposes.

$($Round answer to $2$ decimal places, e$.$g$.7\mathrm{.}58\%.)$

Weighted$-$average interest rate

$\%$