Apple Inc. has 5,366,166,000 shares traded at a market value of $126 per share; its debt outstanding has an estimated market value of $90,883,140,000. The stock has a beta of 1.193. The expected return on stocks is 8.78%. The firm is rated AAA and paid 30% of its income as taxes. The risk-free rate is 2.47%, and the yield-to-maturity of Apple’s bonds is 3.27%.

A. What is Apple’s debt ratio?

B. What is Apple’s equity ratio?

C. What is Apple’s after-tax cost of debt?

D. What is Apple’s investors required return on equity?

E. What Apple’s cost of capital (after-tax WACC)?