Please show the solution with all formulas and calculations step by step. Do not use exel please.

The joint stock company has a total capital of 630 mil. USD. The company has the following structure of capital: 3. a) 530 mil. USD of shares where 280 mil. USD are in common stock and 250 mil. USD are in preferred stock b) Long-term loans is 60 mil. USD with 2 % p.a c) Short-term loans is 40 mil. USD Determine the weighted average of capital for following company under these conditions: Income tax is 20 % Preferred stocks have a nominal value of 10 000 USD per share. They are traded for 11 000 USD and guaranteed (promised) a permanent priority dividend 1 000 USD annum per share. Common stocks were issued at a nominal value of 2 000 USD per share. Flotation cost of these new shares were calculated at 50 USD per share. Shares are traded on the market for 2 400 USD pers are. Dividend is assumed at 10 % of par value in the first year, where the expected growth of dividends is assumed at 1 % every year. Long-term loans are provided at a current rate of 4 % every year, with a maturity 10 years. II. III. IV