Current Attempt in Progress

Blue Company is constructing a building. Construction began on February $1$ and was completed on December $31.$ Expenditures were

$$1,812,000$ on March $1,$$$1,212,000$ on June $1,$ and $$3,007,840$ on December $31.$

Blue Company borrowed $$1,004,930$ on March $1$ on a $5-$year, $13\%$ note to help finance construction of the building. In addition, the

company had outstanding all year a $10\%,5-$year, $$2,200,900$ note payable and an $11\%,4-$year, $$3,365,100$ note payable. Compute the

weighted$-$average interest rate used for interest capitalization purposes. $($Round answer to $2$ decimal places, e$.$g$.7\mathrm{.}58\%.)$

Weighted$-$average interest rate

$\%$