upcoming expansion. The firm will have $1 million of retained earnings with a cost of rs=10%. New common stock in an amount up to $8 million would have a cost of re=13.0%. Furthermore, Olsen can raise up to $4 million of debt at an interest rate of rd=10% and an additional $6 million of debt at rd=12%. The CFO estimates that a proposed expansion would require an investment of $4.2 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places. %