Witcheries Ltd currently has $200 million of market value debt outstanding. The 9% coupon bonds paid semi-annually have a maturity of 15 years, a face value of $1,000 and are currently priced at $1,024.87 per bond. The company also has an issue of 2 million preference shares outstanding with a market price of $20. The preference shares offer an annual dividend of $1.20. Witcheries also has 14 million ordinary shares outstanding with a price of $20.00 per share. The share has a beta of 1.1. The current Treasury bills pay 3% and market earns a return of 10%. If the corporate tax rate is 30%, then what is the companys weighted average cost of capital?