Question: WACC . Grey's Pharmaceuticals has a new project that will require funding of $4.1 million. The company has decided to pursue an all-debt scenario. Grey's

WACC. Grey's Pharmaceuticals has a new project that will require funding of $4.1 million. The company has decided to pursue an all-debt scenario. Grey's has made agreements with four lenders for the needed financing. These lenders will advance the following amounts at the interest rates shown:

Lender	Amount	Interest Rate
Steven	$1,502,878	13%
Yang	$1,207,383	11%
Shepherd	$976,775	9%
Bailey	$412,964	10%

What is the weighted average cost of capital for the $4,100,000? ________% (Round to two decimal places.)

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