6. Chapter Problem 10.10 (WACC), Section Problem 10.10 (WACC), Problem Problem 10.10 (WACC) eBook Olsen Outfitters Inc. believes that its optimal capital structure consists of 50% common equity and 50% debt, and its tax rate is 25%. Oisen must raise additional capital to fund its upcoming expansion. The firm will have $2 million of retained earnings with a cost of r = 11%. New common stock in an amount up to $6 million would have a cost of r. = 14.0%. Furthermore, Olsen can raise up to $4 million of debt at an interest rate of ro - 10% and an additional $6 million of debt at - 12%. The CFO estimates that a proposed expansion would require an investment of $7.8 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places