1) A business has the following balances on its Balance Sheet ss at Dec 31, 2019
Long Term Loan 10%     $100 million
Preferred Shares (100,000 outstanding)     $100 million
Common Shares (100,000 outstanding)     $120 million

The common shares have a current market value of $1,500 per share and the current level of dividend is $100 per share.  The dividend has been growing at a compound rate of 6% a year in recent years.  The Long Term loan is perpetual and has a current market value of $90 per $100 nominal.  The nonredeemable preferred share has current market value of $950 per share and pays dividend of $80 per share.   Tax rate is 40%.

Calculate WACC.