Back to Assignment Attempts Keep the Highest/1 8. Problem 10.10 (WACC) LA eBook Olsen Outfitters Inc. believes that its optimal capital structure consists of 70% common equity arid 30% debt, and its tax rate is 25%. Olsen must raise additional capital to fund its upcoming expansion. The firm will have $1 million of retained earnings with a cost of - 13%. New common stock in an amount up to $7 million would have a cost of - 15.0%. Furthermore, Olsen can raise up to $4 million of debt at an interest rate ofre -11% and an additional $4 million of debt atre -14%. The CFO estimates that a proposed expansion would require an investment of $9.2 million. What is the WACC for the last dollar raised to complete the expansion? Round your answer to two decimal places Grade it Now Save & Continue Continue without saving O TI 10:00 PM 40 11/21