Alloy Supply Co

Alloy Supply Co.has a new project that will require the company to borrow $3,000,000.Acme has made an agreement with three lenders for the needed financing.First National Bank will give $1,500,000 and wants 6% interest on the loan.Banner Bank will give $1,000,000 and wants 9% interest on the loan.Western National Bank will give $500,000 and wants 7% interest on the loan.What is the weighted average cost of capital to acquire the $3,000,000?

A) 8.17%
B) 11.17%
C) 7.33%
D) 7.17%