The below information relates to Grove Ltd$.$ The company is considering rapid expansion in a range of differing activities in the near future.

Market values:

Equity $(10000000$ shares$)-$ R$13800000$

Loan $-$ R$2823600$

A dividend of $18$c is due to be paid shortly. The company has been growing at a rate of $5\%.$ The loan is not traded on the open market, but its effective pre$-$tax cost has been estimated at $18\%$

The current tax rate is $27\%$

Required:

Calculate the company WACC