(Calculating the weighted average cost of capital) Crypton Electronics has a capital structure consisting of 44 percent common stock and 56 percent debt. A debt issue of $1,000 par value, 8.5 percent bonds that mature in 15 years and pay annual interest will sell for $774. Common stock of the firm is currently selling for $24.92 per share and the firm expects to pay a $3.31 dividend next year. Dividends have grown at the rate of 4.5 percent per year and are expected to continue to do so for the foreseeable future. What is Crypton's cost of capital when the firm's tax rate is 20 percent? 7 8 9 10 11 12 a. The after-tax cost of debt is %. (Round to two decimal places.) b. The cost of common equity is ☐ %. (Round to two decimal places.) c. Crypton's cost of capital is %. (Round to three decimal places.) 13 14 15 16 17 18 19 20 21 22 24 25 26

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter15: Dividend Policy
Section: Chapter Questions
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(Calculating the weighted average cost of capital) Crypton Electronics has a capital structure consisting of 44
percent common stock and 56 percent debt. A debt issue of $1,000 par value, 8.5 percent bonds that mature in 15
years and pay annual interest will sell for $774. Common stock of the firm is currently selling for $24.92 per share
and the firm expects to pay a $3.31 dividend next year. Dividends have grown at the rate of 4.5 percent per year and
are expected to continue to do so for the foreseeable future. What is Crypton's cost of capital when the firm's tax rate
is 20 percent?
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a. The after-tax cost of debt is %. (Round to two decimal places.)
b. The cost of common equity is ☐ %. (Round to two decimal places.)
c. Crypton's cost of capital is %. (Round to three decimal places.)
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Transcribed Image Text:(Calculating the weighted average cost of capital) Crypton Electronics has a capital structure consisting of 44 percent common stock and 56 percent debt. A debt issue of $1,000 par value, 8.5 percent bonds that mature in 15 years and pay annual interest will sell for $774. Common stock of the firm is currently selling for $24.92 per share and the firm expects to pay a $3.31 dividend next year. Dividends have grown at the rate of 4.5 percent per year and are expected to continue to do so for the foreseeable future. What is Crypton's cost of capital when the firm's tax rate is 20 percent? 7 8 9 10 11 12 a. The after-tax cost of debt is %. (Round to two decimal places.) b. The cost of common equity is ☐ %. (Round to two decimal places.) c. Crypton's cost of capital is %. (Round to three decimal places.) 13 14 15 16 17 18 19 20 21 22 24 25 26
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