WACC. Eric has another get$-$rich$-$quick idea, but needs funding to support it$.$ He chooses an all$-$debt funding scenario. He will borrow $$2,995$ from Wendy, who will charge him $6\%$ on the

loan. He will also borrow $$2,333$ from Bebe, who will charge him $8\%$ on the loan, and $$1,672$ from Shelly, who will charge him $14\%$ on the loan. What is the weighted average cost of

capital for Eric?

What is the weighted average cost of capital for Eric?

$\%($Round to two decimal places.$)$