Whispering Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $900,000 on March 1, $600000 on June 1, and $1500000 on December 31. Whispering Company borrowed $500000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $1,000,000 note payable and an 11%, 4-year, $1750000 note payable. Compute the weighted-average interest rate used for interest capitalization purposes. Use 4 decimal places for interest rate and answer please