Mapanyaza Securities Limited provide security services to both the industrial and residential sectors$.$ Itsservices include provision of security personnel, transportation of cash, and installation of securitycameras$,$ among other things. The company is listed on the Johannesburg Stock Exchange and has a$31$ March financial year$-$end. You work at a financial advisory firm and have been provided with thefollowing information relating to Mapanyaza Securities Limited for the year ended $31$ March $2024$:Market value of debentures R$?$Long$-$term loans R$14000000$Number of issued ordinary shares $1000000$Share price R$15$Earnings before interest and tax R$6000000$Cost of equity $?$Cost of debt $?$Additional information:$1.$ The company issued $500000$ redeemable debentures at a nominal value of R$10$ each. Thedebentures are redeemable at nominal value in five years time. The debentures bear $12\%$ interest$($coupon rate$)$ per annum, whereas the market return for similar debentures is $10\%\mathrm{.}2.$ The long$-$term loan bears interest at $13\%$ per annum. Interest and the capital amount are repayableannually in arrears over the next five years. The current JIBAR rate used for similar loans is $11\%\mathrm{.}3.$ The company has $10$ million authorised shares of which $1$ million have been issued. The dividendpaid to ordinary shareholders for the year ended $31$ March $2024$ was R$2$ per share. The expectedgrowth rate is $6\%$ per year for the foreseeable future$\mathrm{.}4.$ Assume that the current company taxation rate is $28\%.$REQUIRED:For each question below, remember to: Clearly show all the formulas used; Clearly show all your detailed calculations; and Round percentages to two decimal places and final answers to the nearest rand.$($a$)$ Calculate the current market value of the debentures of Mapanyaza Securities Limited.Use the mathematical formula, showing the formula and detailed substitution OR use thefinancial calculator showing all detailed inputs.$(6)($b$)$ Calculate the cost of equity of Mapanyaza Securities Limited, using the dividend growth model. $(5)($c$)$ Calculate the market value $($market capitalisation$)$ of Mapanyaza Securities Limiteds issuedordinary shares. $(2)($d$)$ Calculate the weighted average cost of capital $($WACC$)$ of Mapanyaza Securities Limited forthe year ended $31$ March $2024.$