WACC. Eric has another get-rich-quick idea, but needs funding to support it. He chooses an all-debt funding scenario. He will borrow $7,289 from Wendy, who will charge him 3% on the foan. He will also borrow $4,715 from Bebe, who will charge him 5% on the loan, and $2,996 from Shelly, who will charge him 11% 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.)