2. The Astrazed Corporation faces an effective company income tax rate of 40%. The firm is financed with debt, preference capital and ordinary equity, for which the following details are available: Debt: The firm has 8,000 corporate bonds on issue, the current yield to maturity is 7% per annum, and the bond value is $1,100 Preference Capital: There are 200,000 preference shares on issue. The current preference share price is $55, and it pays annual preference dividends of $4 Ordinary Capital: 1,200,000 ordinary shares are on issue. The current ordinary share price is $25 per share, expected dividend per share is $8. Dividends are expected to grow at a rate of -3% indefinitely. Given the above information, and assuming the capital asset pricing model is valid, calculate the current weighted average cost of capital for the Astrazed