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Details of the capital structure of Mineral Ltd. appear below: Bonds Number issued 38.000 Coupon rate 5.5% Interest payments semi-annually Years to maturity 15 Current
Details of the capital structure of Mineral Ltd. appear below:
Bonds Number issued
38.000
Coupon rate
5.5%
Interest payments
semi-annually
Years to maturity
15
Current price
$92
Preferred shares
Number issued
Dividend per share
Current brice
2 million.
$3.5
$31
Common shares
Number issued
Next dividend per share
Dividend growth rate
Current price
2.8 million
$45
7%
$40
Flotation costs
Bonds
Preference shares
Common shares
5%
6%
7%
Required: The company's tax rate is 40%. Calculate the company's weighted average cost of capital (Use 4 decimal places)
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