2. Ufone finances its operations with 50 percent debt and 50 percent equity. Its net income is PKR 30 million and it has a dividend payout ratio of 20%. Due to COVID 19, this year Ufone's capital budget is PKR 40 million. The interest rate on Ufone's debt is 10 percent and the company's tax rate is 40 percent. Ufone's common stock trades at PKR 66 per share and its current dividend of PKR 4 per share is expected to grow at a constant rate of 10 percent a year. (a) Will Ufone have to issue to external equity?; (b) What is Ufone's WACC? (25 Marks)