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WACC. ​Grey's Pharmaceuticals has a new project that will require funding of ​$8.4 million. The company...

WACC. ​Grey's Pharmaceuticals has a new project that will require funding of ​$8.4 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   $3,033,876   14%
Yang   $2,546,466   12%
Shepherd   $2,183,898   9%
Bailey   $635,760   10%

What is the weighted average cost of capital for the 8,400,000​?

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