(a) WACC calculation and interpretation (i) The table below shows the existing capital structure (at market value) and its corresponding after-tax costs for Mitre Company. You are employed as an accountant of Mitre Company. Calculate the Weighted Average Cost of Capital (WACC) for the existing capital structure. (Round your percentage answer to two decimal places) Amount $1,500,000 $1,000,000 After-tax cost 10% Non-current liabilities ordinary shareholders equity 12% (2 marks) (ii) Explain how this rate can be used to evaluate any proposed investment projects. (2 marks Maximum of 40 words)