2. Calculate the weighted average cost of capital for a company given the following information:

Price of the companys common stock: $30.04

Dividend just been paid: $2.6

Expected perpetual constant growth rate: 4%

The company can borrow from its bank at 9% per year

The companys marginal tax rate: 35%

The market value of the companys assets is $160 million financed by $54.40 million in debt and the rest in equity