Items Net fixed assets Inventories 5,230 Accounts receivable 7,610 9,260 30,000 Cash Total Amount 7,900 Items Sales Variable cost Fixed cost Tax profit (15%) Net profit The company's data Items Common equity: Common stock (Ordinary shares 3,720 (1.0 nominal value)) Retained earning 21,284 Long-term liabilities (bank loan, 2,500 interest rate of 7% per year) Accounts payable Wages payable accounts Total The company's data Amount 920,000 568,000 310,560 Amount 150 2,346 31,000 Table 2.2 The current dividend is 1.30 per share. Dividends in future are expected to grow at a rate 3 percent per year. Market price of ordinary shares is 4.00. Required: 1. What is the working capital policy? 2. What is the cash conversion cycle? 3. What is WACC?