A ten Attempts: Keep the Highest: 021 10. Problem 10.10 Click here to read the eBook: Basic Definitions WACC Olsen Outfitters Inc. believes that its optimal capital structure consists of 40% common equity and 50% debt, and its tax rate is 40%. Olsan must raise additional capital to fund its upcoming expansion. The firm will have $1 million of retained earnings with a cost of 1-12%. New common stock in an amount up to $10 million would have a cost of re-15%. Furthermore, Olsen can raise up to $3 million of debt at an interest rate of te - 9 and an additional $5 million of debt at - 12%. The CFO estimates that a proposed expansion would require an investment of 14.5 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places. Continue without saving