$3$Omega Engincering Ltd $($OEL$)$ is considering a significant major programrequiring an investment of Rs $90$ lakhs. Before proceeding with theexpansion, the company's CEO, Mr$.$ Virat, wants to estimate the cost ofcapital. For this purpose, he summoned his two managers $-$ Bhumra andRohit.As per Bhumra, the company's expected net income this year is Rs $5$ lakhs,its established dividend pay$-$out ratio is $35\%,$ its tax rate is $30\%.$ Firm hasdeclared a dividend of Rs $2\mathrm{.}6$ per share. The dividends are likely to grow at$7\%.$ OEL's stock is currently selling for Rs $50$ per share.OEL had good access to the capital market and could raise capital in thefollowing ways: New preferred stock witha dividend of Rs $12$ could be soldin the market at Rs $98.$ Also, debt could be raised at $10\%.$Based on this information, calculate WACC for the firm with an optimalcapital structure as shown below:ParticularsOrdinary shares $(100,000$ shares$)14\%$ Preference shares$8\%$ Bond $($Par value Rs $100)$TotalAmount $($in lakhs of Rs$)50142690$