WACC Olsen Outfitters Inc, believes that its optimal capital structure consists of 60% common equity and 40% debt, and its tax rate is 40%. Olsen must raise additional capital to fund its upcoming expansion. The firm will have $1 million of retained earnings with a cost of -12%. New common stock in an amount up to $6 million would have a cost of -15%. Furthermore, Olsen can raise up to $4 milion of debt at an interest rate ofre -10% and an additional $4 million of debt at ro - 13%. The CFO estimates that a proposed expansion would require an investment of $8.0 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places. %