1. Shares of Corporation have a beta of 0.90. The market risk premium is 7%, and the risk-free rate is 8%. Corporation paid a dividend of $1.80 per share, and the dividend is expected to grow at 7% forever. The share currently sells for $25. Corporation has a debt-equity ratio of 50%. Its cost of debt is 8%, before taxation, taxation rate is 30%.

What is the weighted average cost of capital of Corporation?