Reference no: EM131908201
The following information was extracted from the books of Simba Limited as at 31st December 2016:
Shs.
Ordinary share capital (par value Sh.25) 8,000,000
8% preference share capital (par value Sh.24) 6,000,000
10% preference share capital (par value Sh.20) 4,000,000
10% debentures 4,000,000
22,000,000
Additional information:
1. The market value of the 10% debentures on 31 December 2016 was Sh.500,000
2. The share prices as at 31 December 2016 were as follows:
Market price per share (Sh)
8% preference shares 20
10% preference shares 25
Ordinary shares 30
3. The company has maintained payment of an ordinary dividend per share of Sh.3.80 over the past five years.
4. The corporation tax rate is 30%
Required:
i) Cost of 8% preference share capital
ii) Cost of 10% preference share capital
iii) Cost of 10% debentures
iv) Cost of ordinary share capital
v) Weighted average cost of capital
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