c) Cycler Corporation has 250,000 shares of common stock outstanding at a market price of RM28 a share. Next year's annual dividend is expected to be RM1.55 a share. The dividend growth rate is 2 percent. The firm also has 7,500 bonds outstanding with a face value of RM1,000 per bond. The bonds carry a 7 percent coupon, pay interest annually, and mature in 8 years. The bonds are selling at 98 percent of face value. The company's tax rate is 34 percent. Calculate the firm's weighted average cost of capital. (8 marks) (CLO3:PLO6:04)