First: If you know that the target financial structure of a company consists of: 25% of long-term loans, 15% of bonds, 13% of preferred shares, 36% of ordinary shares, 11% of retained earnings, and that: the interest on long-term borrowing is 10%, the face value of the bond is 5000 The bond sale price is 4880 dirhams, with a coupon of 9%, and it matures after 15 years. The nominal value of the preferred share is 400 dirhams, at a selling price of 388 dirhams and an interest of 8%, the selling price of the common share is 10 dirhams, and a dividend of 0.8 dirhams per share is expected at the end of the year with a dividend growth rate of 2%. Required: Calculate the weighted average cost of capital.