ii$.$Joyner Ltd has an average market cost of borrowing of $6\%$ per year and an equity beta of $1\mathrm{.}2.$ Joyner has a consistent ratio of debt to equity of $2$:$1$ and a tax rate of $35\%.$ The expected return on the market portfolio is $20\%$ and the expected risk$-$free rate is $3\%.$ Calculate the WACC for Joyner Ltd$.$

iii.Given the following data, calculate Jolly Giant PLC$$s weighted average cost of capital $($WACC$).$Risk$-$free rate $($Rf$)=4\%$ p$.$a$.$Jolly Giant PLC$$s Beta $(\backslash$beta $)=0\mathrm{.}6$Jolly Giant PLC$$s share price $=4\mathrm{.}00$Number of Jolly Giant PLC shares in issue $=7\mathrm{.}8$ million$$Jolly Giant PLC$$s credit risk premium $($Rp$)=3\%$ p$.$a$.$Jolly Giant PLC$$s market value of debt $($D$)=18$m$$Equity risk premium $($E$($Rm$)$ Rf$)=8\%$ p$.$a$.$Jolly Giant PLC$$s corporate tax rate $($t$)=25\%$

$*$ iv$.$The companies in $($i$)$ and $($ii$)$ above have a beta greater than one. Explain what this means and the benefits to managers of knowing the cost of equity capital of their companies