Windsor Company is constructing a building. Construction began on February 1 and was completed on December 31 . Expenditures were \$1.2 million on March 1, \$0.9 million on June 1, and \$4 million on December 31. Windsor Company borrowed \$1.3 million on March 1 on a five-year, 13% note to help finance the building construction. In addition, the company had outstanding all year a $2 million, five-year, 13% note payable and a $3.4-million, four-year, 16% note payable. Calculate the appropriate capitalization rate on general borrowings that would be used for capitalization of borrowing costs. (Round answer to 2 decimal places, e.g. 52.75\%.) Capitalization rate %