Alefa $($Pty$)$ Ltd is a medium$-$sized manufacturing company looking to expand its operations by setting up a new production facility. The total investment required is estimated at P$12$ million. The company's financial manager has proposed financing the project through a mix of equity, preference shares, and long$-$term debt. The proposed capital structure for the project is as follows: $40\%$ Equity $($ordinary shares$)20\%$ Preference Shares $40\%$ Long$-$term Debt The following additional information is available: $$ The cost of equity is estimated at $14\%,$ based on the Capital Asset Pricing Model $($CAPM$).$ The preference shares will pay a fixed dividend of $9\%.$ The long$-$term debt will be raised through bonds with an interest rate of $10\%,$ and interest payments are tax deductible. The company$$s corporate tax rate is $30\%.$ The market value of each source of finance is assumed to be equal to its book value. Required: a$)$ Explain three long$-$term sources of finance that Alefa $($Pty$)$ Ltd is considering. Comment on the advantages and disadvantages of each. $(9$ marks$)$ b$)$ Calculate the Weighted Average Cost of Capital $($WACC$)$ for the project using the information provided. Show all workings.$(8$ marks$)$ c$)$ Discuss how WACC can influence the investment decision for the new production facility. $(8$ marks$)$