WACC Olsen Outfitters Inc. believes that its optimal capital structure consists of 65% common equity and 35% debt, and its tax rate is 40%. Oisen must raise additional capital to fund its upcoming expansion. The firm wil have $5 million of retained earnings with a cost of -12%. New common stock in an amount up to $9 million would have a cost of r. 15% Furthermore, Olsen can raise up to $3 million of debt at an interest rate of and an additional $6 million of debt ata - 10%. The CFO estimates that a proposed expansion would require an investment of $8.1 million. What is the WACC for the last dollar raised to complete the expansion Round your answer to two decimal places