● X Ltd. has the following Capital Structure on October 31, 2015:

Source of Capital `

Equity Share Capital (1,00,000 shares of `10 each) 10,00,000 Reserve and Surplus 10,00,000 12% Preference Shares 5,00,000 9% Debentures 15,00,000 40,00,000 The market price of equity share is `50. It is expected that the company will pay a dividend of `5 per share next year which will grow at 7% forever. Assume 30% income tax rate. You are required to compute weighted average Cost of Capital using market value weights.