P11-1 (similar to) A Question Help WACC. Eric has another get-rich-quick idea, but needs funding to support it. He chooses an all-debt funding scenario. He will borrow $2,755 from Wendy, who will charge him 6% on the loan. He will also borrow $2,077 from Bebe, who will charge him 8% on the loan, and $1,168 from Shelly, who will charge him 14% on the loan. What is the weighted average cost of capital for Eric? What is the weighted average cost of capital for Eric? % (Round to two decimal places.)