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Corporate Tax Rate Personal tax rate Num Shares Outstanding (see Final tips; in millions) 25% na: Current Share Price $ 15.69 898.6 Equity Beta

Corporate Tax Rate Personal tax rate Num Shares Outstanding (see Final tips; in millions) 25% na: Current Share Price $ 15.69 898.6 Equity Beta 0.81 rf (risk free rate = 20-yr treasury rate) 5.65% Risk premium (= rm -rf) 7.00% rD (yield on AA corporate debt) 9.79% Divident payout ratio|| 45.98%

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