Cost of preference shares 4 million ordinary shares issued at R4 each but currently trading at R6 each. 3 million 12%, R4 preference shares which incurred floatation costs of R0.16 per share. R4 000 000 15% Bank loan, due in July 2027. Additional information The company's beta coefficient is 1.5. The return on the market is 20%. A dividend growth of 10% per annum on ordinary shares was maintained over the past five ye Assume that the company tax rate is 20%