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Padd properties is looking to determine its cost of capital. Information available include the following: Preference Shares: The preference shares were issued for $ 1

Padd properties is looking to determine its cost of capital. Information available include the following:
Preference Shares:
The preference shares were issued for $12 with a $1 dividend. The current market price is $18. There were$120m worth of shares originally issued.
Debt:
It has bonds on issue with a face value of $100,000 that currently pay a quarterly coupon of 10%. These bonds currently trade at par. 1,000 bonds are on issue.
Ordinary Shares:
The company also has 100 million ordinary shares on issue with a market price of $4 each.
The market risk premium is 8% and the company has a beta of 1.5.
The company just paid a dividend of 40 cents and dividends have an expected growth of 2%.
Other Information: The tax rate is 30%.
Determine the weight of debt, ordinary equity, and preference equity to be used in the calculation of the after tax WACC.

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