An analyst has collected the following information regarding Christopher Co

An analyst has collected the following information regarding Christopher Co.: 
• Capital structure 
Debt 
4,000,000 
Common Shares 
6,500,000 
Preferred Shares 
3,500,000 
• The yield to maturity on the company's bonds is 9 percent. The bond price selling a par value RM1,000 for 20 years periods. • The company's last year's dividend was $2.80 for common shares. • The company expects that its dividend will grow at a constant rate of 7 percent a year. • The current common share price is $40. • The tax rate is 40 percent. • The company anticipates that it will need to raise new common share this year and total flotation costs will equal 10 percent of the amount issued. • The preferred share is fixed at $1.60 with the market price at $25. 
Assume the company accounts for flotation costs by adjusting the cost of capital Required: (a) Calculate the company's WACC.