The following details relate to two companies for year ending 31/12/2019 Company Azania Ltd Zamia Ltd Number of shares ..60,000 each Kshs 5......... 60,000 each Kshs 5 8% Preference shares. 130,000 each Kshs 5........ 8% debentures Kshs 130,000 Gross income (Kshs) ........600,000............. ...........600,000 Required 1) Compute for each company - earnings per ordinary share and the effective tax rate (10 Marks) II) Effective cost of debt for Zamia Ltd (2 Marks) ill) Zamia Ltd tax savings