3.1 Calculate the estimated cost of borrowings and equity in a development based on the following information. Show all calculations. a) Equity invested is R6 000 000 in the pre-contract and contract stages of the project b) Total Capital Outlay is R39 500 000 c) Pre-contract period is 5 months d) Contract period is 18 months e) The cost of borrowings is 1.1% per month 1') Opportunity cost of equity is 0.3% per month 3) The land acquisition cost in month 1 is R2 500 000. (13)