QUESTION 1 A company's profit after tax (but before the preference dividend) for the year ended 28 February 2016 was R1 550 000. The preference dividend was R50 000 before any tax deducted. The co also had 60 000 ordinary shares and 40 000 preference shares in issue at the beginning of the financial year. A tax rate of 28% applies. Calculate the value for WANOS 1. 100 000 2. 60 000 3. 40 000 4. 50 000