A manufacturing company, XYZ Corp, is considering a new project and needs to determine its Weighted Average Cost of Capital $($WACC$)$ and Economic Value Added $($EVA$).$ The company's Earnings Before Interest and Taxes $($EBIT$)$ stand at R$30$ million. XYZ Corp's capital structure comprises R $100$ million in ordinary capital, R$40$ million in reserves and surplus, and R $60$ million in $8\%$ debentures. The cost of equity is estimated at $10\%,$ and the corporate tax rate is $30\%.$ Kindly assist Mr John in understanding the importance of business planning. Calculate the WACC and EVA if the new project is accepted. $(15$ marks$)$