How did we get the market value of equity? Why is the price per share (27.50) multiplied by 80,000?

Illustration 5.6 The following figures are taken from the current balance sheet of Delaware \& Co. CapitalSharePremiumReservesShareholdersfunds12%Perpetualdebentures8,00,0002,00,0006,00,00016,00,0004,00,000 An annual ordinary dividend of 2 per share has just been paid. In the past, ordinary dividends have grown at a rate of 10 per cent per annum and this rate of growth is expected to continue. Annual interest has recently been paid on the debentures. The ordinary shares are currently quoted at 27.50 and the debentures at 80 per cent Ignore taxation. You are required to estimate the weighted average cost of capital (based on market values) for Delaware \& Co. [B.Com.(H), D.U., 2014]