Zico enterprises a new company had the following facts as at 31st December 2013:

(a) The company had issued 100,000 common stocks of $1.5 in the year 2013 that sold for $45 per share and their expected dividend was $5 per share which was expected to grow at ^% indefinitely and floatation cost is 2%.

(b) It also issued 11%,20,000 debentures of $100 at &125 each in the year 2010 with a maturity period of 5 years.

(c) The company raised additional funds for expansion purpose by issuing 10%,50,000 non-redeemable preference shares of $5 each at a price of $20 per share.Floatation cost amounted to 4%.

(d) A 10 year loan was borrowed in 2010 also for expansion purpose of $4,000,000 at 19% interest rate.

(e) The retained earnings for the year 2010amounted to $5,000,000.

Required.

Assuming a tax rate of 30%,compute the weighted average cost of capital for the company.