N$ 50 million leisure complex in the CBD of Swakopmund. Among other sources of funding, they wish to raise 60% of the capital through public bond. Market rates of interest for similar types of bonds are averaged 12.5%, and tax will be paid at 40%. The remaining 40% will be raised through equity. The risk-free yield is fixed at 8.75% p.a.; average market yields in the leisure property market are around 12% p.a. and the companys beta coefficient is 0.95. Estimate the Weighted Average Cost of Capital for the proposal.