Speedy Delivery Systems can buy a piece of equipment that is

anticipated to provide a return of $11$ percent and can be financed

at $8$ percent with debt. Later in the year, the firm turns down an

opportunity to buy a new machine that would yield a return of $15$

percent but would cost $17$ percent to finance through common equity.

Assume debt and common equity each represent $50$ percent of the

firm$$s capital structure.

$$Compute the weighted average cost of capital.$($Do

not round intermediate calculations. Input your answer as a percent

rounded to $2$ decimal places.$)$

$$

$$