You have just the following information about ABC Ltd, which pays tax @ 35% p.a (i) 7000 Bonds with 8% coupon, face value of $1000 & maturity period of 15 years, payments to be made semi-annually, currently sold at 90% of par value. (ii) 300,000 common shares outstanding, currently selling at $ 60 per share having beta of 1.10. (iii) 20,000 outstanding shares of $6 preferred shares, selling at $95 per share. Required: Work out overall cost of capital assuming 7% market risk premium and 5% risk free rate of return.