KL has the following capital and reserves at 31 December 20X9: $'000 Ordinary shares 300 8% irredeemable
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Question:
KL has the following capital and reserves at 31 December 20X9:
$'000
Ordinary shares 300
8% irredeemable preference shares 100
Retained earnings 150 550
KL also had $200 000 10 per cent loan notes on issue throughout the year. Retained profit for the year was $20 000 after paying the preferred dividend and an ordinary dividend of $7500. What was the return on equity for the year ended 31 December 20X9?
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