Transuburban Ltd, a major construction company, is planning to submit a quote to build the Robert Mitcham Tollway. However, the company finance manager is unsure of the required rate of return to use in her calculations. She has offered you a free G tag if you could provide information on the appropriate discount rate. To help you with your calculations, she has tabled the following extracts from the companys latest Financial Statements Selected Financial data as at 31 December 2022: SHAREHOLDERS FUNDS Ordinary shares Issue price $2.00 each, fully paid $20,000,000 10% Preference shares Issue price $2.00 each, fully paid $10,000,000 Retained Profit $14,500,000 LIABILITIES Accounts Payable $ 1,500,000 Debentures $24,000,000 Bank Overdraft $ 8,000,000 Provision for Long Service Leave $10,000,000 Additional Information: 24,000 debentures have been issued with a coupon rate of 6.5%. They mature in 5 years time. Similar debentures are currently yielding 10%. The bank overdraft carries an interest rate of 8%. Interest is charged monthly. The current dividend paid is 16 cents per share. This dividend is expected to grow indefinitely at 5% per annum. The expected market return on Transuburban Ltd ordinary shares is 13%. The risk free rate of interest is 6%. The current market price of the Preference Shares $1.80. The company tax rate is 30 %. Calculate the weighted average cost of capital (to 2 decimal places). Show all workings.