(e) Having determined the capital structure of the two companies, using other relevant information, calculate the weighted average cost of capital (WACC) of the two companies and explain why the two companies have different WACCs.

Using the below details:

Description			BAPCOR	BABY HUNTING
Market value of Equity			982,059	93,369
Total Market Value of Debt and Equity			1,679,967	258,261
cost of Equity			0.45	0.04
Market value of Debt			697,908	164,892
cost of debt				5.30%
1-Tax rate			0.7	0.7

(f)Critically evaluate the use of capital budgeting techniques in any two African countries, focusing on the techniques widely used, similarities and differences in usage. You are to use information from four articles published in peer reviewed journals. (10 marks)