NTPM Limited, a company listed on the stock exchange, has the following capital structure extracted from its balance sheet:

Common stocks of $1 each $20,000,000 10% Cumulative Preffered stocks $ 10,000,000 of $1 each 12% Irredeemable Debentures Par $ 20,000,000 value $100

The common and Preffered stocks are currently quoted at $2.25 and 95 cents per share respectively, whilst the debentures are quoted at $90 per $100 nominal (par) value. Common dividend, preffered stock dividend and annual interest for the current year have just been paid. The company's record of common dividend per share for the past 5 years is as follows:

2014 15.00 cents 2015 17.11 cents 2016 19.20 cents 2017 20.00 cents 2018 21.96 cents (current)

Corporate tax is 40%

From the information provided above, calculate the current weighted average cost of capital using book value and market value weights.