Question: show work! WACC. Eric has another get-rich-quick idea, but needs funding to support it. He chooses an all-debt funding scenario. He will borrow $6,963 from

show work!

WACC. Eric has another get-rich-quick idea, but needs funding to support it. He chooses an all-debt funding scenario. He will borrow $6,963 from Wendy, who will charge him 6% on the loan. He will also borrow $4.701 from Bebe, who will charge him 8% on the loan, and $3,336 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.)

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