Sporties provide you with the information on their capital as follows: Ordinary shares 25 000 shares R1 000 000 Reserves R1 000 000 Preference shares 1000 shares R1 000 000 Debentures R1 000 000 R4 000 000 Tax rate 40% Preference dividends R150 000 Debentures interest before tax R200 000 Ke 21% Growth 3% D0 R20 per share Preference share current market return is 16% Debentures current market return is 18,333333% If preference shares are held indefinitely it rewards at 18% dividend per annum or it can be converted in 3 years time.

Calculate the current WACC.