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Adonai Estate Limited, established 10 years ago, is a listed medium size real estate development...

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Adonai Estate Limited, established 10 years ago, is a listed medium size real estate development company in Ghana. Its capital structure is made up of the following components: 10,000 bonds face value of Ghs 1,000; 2 million shares of 7% preference stocks with face value Ghs 100; and .5 million shares of common stocks. Yield to maturity of bonds with similar characteristics is 7%. The preference shares are selling for Ghs60 a share. The common stock has a beta of 1.5 and sells for Ghs 50 a share. Risk free rate is 3% and market return is 15%. Tax rate is 16.5% Required What is XYZ's weighted average cost of capital

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