9. SWAN Ltd. has assets of `3,20,000 which have been financed with `1,04,000 of debt,

`1,80,000 of equity, and a general reserve of `36,000. The company’s total profit after interest and taxes for the year ended March 31, 2013 were `27,000. It pays 8% interest on borrowed funds and is in the 30% tax bracket. It has 1,800 equity shares of `100 per share, presently selling at a market price of `120 per share. What is the weighted average Cost of Capital of SWAN Ltd.?