You are estimating the weighted average cost of capital (WACC) for your company based on the following information:

Equity information	Debt information
40 million common shares outstanding	$1 billion of debt at face value
$60 market price per share	Debt quoted price = 120
Stock beta of 1.50	Coupon rate = 7%, semi-annual
Market risk premium of 8%	10 years to maturity
Risk-free rate of 5%	Marginal tax rate of 30%

Calculate the following

1. Cost of equity (%):

2. Cost of debt (%):

3. Proportion of debt (%):

4. Proportion of equity (%):

5. Weighted average cost of capital (%):