Speedy Delivery Systems can buy a plece of equipment that is anticipated to provide an $6$ percent return and can be financed at $3$ percent with debt. Later in the year, the firm turns down an opportunity to buy a new machine that would yleld a $14$ percent return but would cost $16$ percent to finance through common equity. Assume debt and common equity each represent $50$ percent of the firm's capital structure.

a$.$ Compute the weighted average cost of capital.

Note: Do not round intermediate calculations. Input your answer as a p$$

$\backslash$table$[[$Weighted average cost of capital,$\%$