calculate the cost for redeemable debt and preference shares

Due to rounding please select the choice closest to your calculated answer. Marking will be given for workings. The following is an extract from the balance sheet of Lance International plc at 30 March 2020: '000 Ordinary shares of 50p 2,600 Reserves 2,425 9% preference shares of 1 each 2,250 14% Debentures 2,500 Total long term funds 9,775 1 The ordinary shares are quoted at 90p cum dividend, assume that the next dividend is 4p, growing thereafter at 11.5% per annum indefinitely. The preference shares which are irredeemable are quoted at 75p and the debentures are quoted at 94 and are due to redeemed at par in 5 years. Assume a tax rate of 30%. You are required to use the relevant data above to estimate the company's Weighted Average Cost of Capital (WACC)