XYZ Ltd: Statement of financial position as at date of incorporation Assets $ Sundry Assets 1,000,000 Liabilities and shareholders’ funds Debentures, 8% (10 years) 300,000 Preference Shares, 9% 200,000 Ordinary Shares, issued and paid up 500,000 at $1 500,000 1,000,000 Other information are: The company prospectus contains estimates that it will earn $100,000 in the first year and pay dividends of 10% per share. Brokers anticipate that dividend will grow at 5% per annum. The shares are currently selling at $1.00. The company tax rate is 30%, and the proportion of tax collected from the company that is claimed by shareholders is 0.60. Calculate the cost of capital for XYZ Ltd. (30 marks)​