Pawsey Investments Pty Ltd is an Australian Listed company with foreign investors, and has the following financing arrangements. Capital Debt - 1,000,000 bonds 6% p/a coupon rate paid bi-annually $1,041.50 current price quote Yield to Maturity of 5.5% Preferred stock - 50,000 shares 4.5% p/a dividend rate $100 per value $90 market price Common stock - 2,000,000 ordinary shares $85 market price 1.05 Beta Market data - 30% corporate tax rate $85 market price 3% risk free rate a) calculate the after-tax cost of debt b) calculate the after-tax cost of preference shares c) calculate the after-tax cost of ordinary shares d) Beta is used by many analysts as a measure of risk for firms. Why is Beta preferred by many market analysts as a risk proxy instead of using a shares individual standard deviation which measures the total risk of an individual share