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Shares of stock outstanding

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1000 outstanding bonds maturing in exactly 8 years with a face value of $1000. The bonds have an 8% coupon rate, make quarterly coupon payment and currently sell for 96% of par.

n=32

fv=1,000

pv= 960

pmt=20

i/y= 2.17

(annual) YTM= 8.7%

1,000,000 shares of stock outstanding. The stock just paid an annual dividend of $3 and currently sells for $30 per share. Revenues, income and dividends are expected to grow at 5% indefinitely.

Cost of Equity= 15.5 %

Use the following information from the past questions to find Cliff Corp's weighted average cost of capital (WACC) assuming a tax rate of 30%.

Reference no: EM131468721

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