Stella Enterprises raised $10M of capital, 80% from shareholders and 20% of debt. It has a weighted interest rate of 7% on all of its loans. Its three closest competitors of similar sizes have historically earned 11%, 13%, and 15% return, respectively for their investors. It will earn $20M this year and has an effective tax rate of 15%.

Given the above information and that Stella is representative of a composite of all three competitors, what would Stella's WACC be?

		11.6%
		7.0%
		13.0%
		15.1%