Overhead tennis shoppes has a new project that will require the company to borrow 8,700,00 overhead has made an agreement with three lenders for the needed financing. Citizens bank will lend 2,000,000 and wants 8% interest on the loan visitors' bank will lend 4,250,000 and wants 10% interest on the loan. People's bank will lend 2,450,000 and wants 11% interest on the loan. If all of these interest rates are after-tax, what is the weighted average cost of capital for this project.
a) 9.67%
b) 10.17%
c) 9.82%
d) 12.21%