There are $100$ marks available for this assignment. This assignment is worth $10\%$ of your course grade. For Assignment $3,$ you will estimate the weighted average cost of capital of a publicly traded company: Telus. Although you must use the most recent stock market data, you should use the $2021$ Annual Report for the financial statement information. You are required to follow the instructions outlined below and produce a written report that begins with an executive summary of your findings, which should be no more than one page long. Within your executive summary, discuss the reasonability of your estimate. In your report, after your one$-$page executive summary, provide all the specific data that you used to determine the Telus weighted average cost of capital. You can copy this into your Word document from Excel. Be sure to use a basic copy$/$paste and do not copy as a picture. This allows your instructor to provide feedback. Clearly label your calculations. Carefully watch the video tutorial from Module$6$ before completing this assignment. Do not forget to properly reference all your sources and clearly justify any assumptions. Make sure to clearly explain your work so that your Open Learning Faculty Member can give feedback. You may get partial marks, even if your final answer is incorrect. You will submit a single Word document for this assignment, please review the Submission Guidelines. Instructions To estimate the cost of capital, you will need to estimate the cost of equity for Telus using the capital asset pricing model. Because data on preferred shares can be difficult to find, you can ignore them for the purposes of this assignment. You need to estimate beta yourself, not just look it up$.$ Show the calculations in your document. To estimate the risk$-$free rate, go to the Bank of Canada website and use an average of the current $10-$year bond rates. Use $6\%$ as a risk premium, and use the current Telus market capitalization. You will need to use the $2021$ Telus financial statements to calculate the pre$-$tax cost of debt, the tax rate, the after$-$tax cost of debt, and the value of debt. See the criteria below for mark distribution: Professional presentation of your report including referencing $(10$ marks$)$ Correct use of CAPM to estimate the cost of equity $(30$ marks$)$ Correct calculation of the cost of debt $(40$ marks$)$ Correct calculation of the weighted average cost of capital $(10$ marks$)$ Discussion of the reasonability of your estimate $(10$ marks$)$