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Question 6 The following financial information relates to the capital structure of Safety Shipping Pty Ltd 12% debentures, $100 face value 14% preference shares, $10 face value | Ordinary shares, $1 face value 600,000 200,000 1,000,000 Additional information: The debentures are currently selling at $97 each and mature in 6 years' time The market veld of the debenture is 13%. The preference shares are currently selling at $9.50 each. The ordinary shares are currently selling at $1.10 each. The company will pay dividends $0.12 per share next period. It is estimated that the dividend growth rate is 2% per year. The company income tax rate is 30% Calculate the Weighted Average Cost of Capital (WACC) for Safety Shipping Pty Ltd [5 Marks]