Cheeta Corp currently has $$50$ million debt, $$50$ million preference shares and $$100$ million

shareholders' funds in its balance sheet. Its debt comprises a $6\%$ semi$-$annual coupon bond

maturing in $20$ years' time. The bond is currently traded at $$945.$ Cheeta's $5\%$ preference shares,

which were issued at $$100,$ are currently traded at $$75.$ Its outstanding $3\mathrm{.}5$ million shares

currently sell for $$20$ per share and pay dividends of $$1\mathrm{.}2.$ The company is regarded as a mature

stock whose beta is $0\mathrm{.}92.$ The current risk free rate is $4\%$ while the long$-$term market return is

$10\%.$ The corporate tax rate is $22\%.$

Cheeta's weighted average cost of capital $($WACC$)$ is $\_\_\_\_\_\_\_.$