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The following table presents information for Golden Fleece Financial. Long-term debt outstanding $ 470,000 Current yield to maturity on debt 9.00 % Number of shares
The following table presents information for Golden Fleece Financial.
| Long-term debt outstanding | $ | 470,000 | |
| Current yield to maturity on debt | 9.00 | % | |
| Number of shares of common stock | 18,500 | ||
| Price per share | $ | 67 | |
| Book value per share | $ | 42 | |
| Expected rate of return on stock | 18.00 | % | |
Calculate the company cost of capital.
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Financial Management For Decision Making
Authors: Harold Jr. Bierman, Seymour Smidt
1st Edition
1587982129, 9781587982125
