Luxury Real Estate Development would like to take advantage of the upcoming face-to-face classes and would like to build

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Luxury Real Estate Development would like to takeadvantage of the upcoming face-to-face classes and would like tobuild a DormTel near the school. The company is expecting togenerate an income of 5% on this project. The Company needsPhp50M. The business is planning to raise a capital byissuing Php10M bonds and Php40M Preferred shares. Given themarket condition and the credit and investment quality of thecompany, the cost of capital on these securities could be pegged at6% and 5% p.a., respectively. Assume the tax rate is 30%.What is the weighted average cost of capital?
Group of answer choices
4.85%
4.84%
4.82%
4.83%