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Mex Turbs Co has the following capital structure.
The bonds are irredeemable and have a current market value of 98 (ex interest). The company's rate of tax is 40%. Its cost of equity has been estimated at 18% per annum. The current market price per share is 108c ex div. The company's weighted average cost of capital, for investment appraisal purposes, is: A. 11.4% B. 13.4% C. 16.3% D. 15.2% |