The capital items of a company in the balance sheet of 31 December are presented below. The bonds that make up the debts are 1000 TL. with a nominal value of 25% with an interest payment of 5 years. Each bond was sold for 990 TL. The market value of the company's shares is 20 TL and the company has paid 4 TL dividend per share in the current year. Dividend growth rate has been calculated as 8%. Calculate the average cost of capital of the company since the corporate tax rate is 20% and the income tax rate of the partners is 15%. Bonds Issued 6,000,000 Paid-in Capital 7.500.000 Profit Reserves 1.500.000 15.000.000 (bond issued+ paid-in capital+ profit reserves)