PYC Limited is a manufacturing company and it has a capital structure of 65% debt and 35% equity. The firms 15 year, 18% annual bonds sell for R 1,150 each while its common stock currently sells for R 45 per share. The firm recently paid a dividend of R 10 per share on its common stock and the dividend is expected to grow indefinitely at a constant rate of 2% per annum. Assuming the firms tax rate is 40%; a) What is the firms after-tax cost of debt? (4) b) What is the firms cost of common stock? (3) c) Calculate the firms weighted average cost of capital (WACC)