An investor who is in the 28 % tax bracket is considering choosing between an investment earning a 6 % taxable return and an investment earning a 4 % tax-free yield. Advise the investor which investment he should choose and give reasons. (5 marks)

(b) If you buy 100 common shares of ZANACO Plc, to what are you entitled? (5 marks)

(c) What is the most money you could make over the next year? (2 marks)

(d) If you pay K95 per share, what is the most money you could lose over the year? (3 marks)