You have been provided with the following information about the capital structure of Portmore Ltd$.$ which pays taxes at $25\%$:

Common shares $$ There are $3$ million shares outstanding. The current market price of the shares is $$54$ each. The shares paid a dividend of $$3$ per share last year and investment analysts believe the dividends should grow at an average annual rate of $6\%$ for the foreseeable future. Flotation costs are estimated at $7\%.$

Preference shares $$ There are $2\mathrm{.}5$ million preference shares outstanding. The shares carry a stated dividend of $$1\mathrm{.}80$ per share and have a current market price of $$28$ per share. Flotation costs are estimated at $6\%$

Bonds $$ the company has $40,000$ bonds with a face value of $$100$ each and a coupon rate of $5\%$ with interest paid semi$-$annually. The current price of the bonds is $$95,$ and they have $12$ years to maturity. Flotation costs for debt is estimated at $5\%$

Required: Calculate the company$$s weighted average cost of capital. $($Use $4$ decimal places when calculating rates$)$