An online retail company has been approached about adding a product line featuring housewares made by artisans from South America and Africa. It would allow these artisans to sell their handiwork to a wider audience. The founder and CEO is eager to move into this business, but she will need to get $1MM outside financing to support the new product line. The company has hired you, a promising MBA student, to assess its financing options. The company has been able to grow organically, and this will be the first time it has considered outside financing. The company currently has no debt. The company uses an internal discount rate of 14%. Your analysis indicates it can receive a 5-year bank loan at 9%, with annual payment options. The company’s tax rate is 30%. You’ve done a valuation and assume its current market value is $6MM. Assuming the company issues debt, what would its WACC be?