Question 22 55 pts You have the following data for Walmart: Food and Grocery = Retail segment Sams Club = Wholesale segment Walmart Food and Grocery Segment Revenues = $573,062 Walmart Sams Club Revenues = $89,293 You have the following industry data: Industry avg. EV/Sales ratio (Enterprise Value / Sales ratio) for Food and Grocery Retail is 0.62 in 2023. Industry avg. EV/Sales ratio (Enterprise Value / Sales ratio) for Wholesale is 0.96 in 2023. Industry avg. Unlevered Beta for Food and Grocery Retail is 0.7 in 2023. Industry avg. Unlevered Beta for Wholesale is 1.27 in 2023. Walmart has the following international exposure: Revenues from USA and Canada = 83.55% Revenues from Mexico = 6.47% Revenues from China = 2% Revenues from UK = 1.15% USA and Canada are rated as AAA with no default spread. Total equity risk premium is 5% Mexico is rated as BA2. Total equity risk premium is 8.15% China is rated as BA1. Total equity risk premium is 7.46% UK is rated as AA. Total equity risk premium is 5.22% 10 year-Tbond rate (Rf) for USA is 4.65% Walmart has the following capital structure: Total equity 453,715 Total debt = 65,964 Tax rate = 33% What is the cost of equity for Walmart?