Cost of debt o The after-cost of debt of 0.89% has been chosen. It was calculated by the weighted cost of debt. We consider this as most reasonable since the debt's data was recorded during the Covid-19 in 2020. During the calculation, the effective tax rate of 34.59% was used. Cost of equity o The cost of equity of 7.1% has been chosen. It was calculated by using a 30-year risk-free rate, and the market risk premium of Australia. There were four possible betas for this calculation. However, we have decided to use a raw five-year average beta Capital structure o The capital structure was calculated using balance sheet data. Even though the D/E ratio of 18% is the target ratio to achieve, it is unattainable given the situation of DPE's historical D/E over the previous five years. Long-term debt and short-term debt were combined to determine the debt's value. The result of the calculation was 78.95% in debt and 21.05% in equity. WACC o Weighted cost of capital was calculated using the following formula o Cost of equity x Weighted equity + After-tax cost of debt x Weighted debt 0 7.1% x 21.05% + 0.89% x 78.95% = 2.20%