WACC: grays pharmaceuticals has a new project that will require funding of $7.5 million .The company has decided to pursue and all debt scenario Grace has made agreements with for lenders for the needed financing .These lenders will advance the following amounts at the interest rates shown.

Lender Amount Interest Rate Steven 14% 11% $2,777,180 $2,194,520 $1,864,976 $663,324 Yang Shepherd Bailey 9% 10% What is the weighted average cost of capital for the $7,500,000? What is the weighted average cost of capital for the $7,500,000? % (Round to two decimal places.)