Forest Pty's bonds will mature in four years with a total face value of $20,000,000. The bonds pay semieannual coupons at a rate of 10% pa. The yield on the bonds is 18% pa. The company has 300,000 preference shares that pay $0.53 per share dividends and are selling for $5.00 per share.

Forest also has 5,000,000 ordinary shares currently selling for $2.50 per share. The 3 (beta) for the ordinary share.

The market risk premium is estimated to be 10% pa, the risk-free rate is 6% pa and the company tax rate is 30%. 

Calculate the Forest Pty's Atteretax Cost of Capital?