You have the following information on XYZ Ltd: 2 million ordinary shares on offer. Shares are currently trading at $2.20. Beta is 1.2. The market risk premium is 6% and the risk free rate is 4% million preference shares. Dividends are paid annually. The preference shares have just paid a 45 cent dividend and are expected to maintain these dividends indefinitely. The return on these shares is 9% 50,000 semi-annual coupon bonds. The yield to maturity on the bonds is 3%, the coupon rate is 2% and the face value is $100. The bonds are due to mature in 5 years The company tax rate is 30%. . . Calculate the WACC for XYZ Ltd