Assume the following information for Sayang Co., a Malaysia based MNC that needs funding for a project in Germany: Msia risk-free rate = 3.5% German risk-free rate=4.5% Ringgit denominated debt provided by Msia creditors = 6.5% Euro-denominated debt provided by German creditors = 8% Beta of project = 1.3 Expected Msia market return = 10% Msia corporate tax rate = 30% German corporate tax rate = 40% Proportion of debt = 45% I Sayang Co. has decided to go for debt in Germany and equity in Msia a) What is Sayang's after-tax cost of euro-denominated debt? (4 marks) b) What is Sayang's cost of ringgit-denominated equity? (6 marks)