What is the weighted average cost of capital for SKYE Corporation given the following information?
Equity Shares Outstanding....... 1million
Stock price per share....... $30.00
Yield to maturity on debt...... 7.68%
Book value of interest bearing debt....... $10 million
Coupon interest rate on debt....... 9%
Interest rate on govenrment bonds..... 6%
SKYE's equity beta...... 0.75
Historical Excess return on stocks...... 6.3%
Tax rate...... 40%