Swifty Corporation is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6360000 on March 1, $5340000 on June 1, and $8950000 on December 31. Swifty Corporation borrowed $3240000 on January 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 11%, 3-year, $6450000 note payable and an 12%, 4-year, $12650000 note payable. What is the weighted average interest rate used for interest capitalization purposes? 11.66% 12.00% 11.51% 11.86%