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Question 4 Alpha Limited and Beta Limited are identical except for capital structures. Alpha Ltd. has 50 per cent debt and 50 per cent equity, whereas Beta Ltd. has 20 per cent debt and 80 percent equity . (All percentage share in market-value terms). The borrowing rate for both companies is 8 percent in a no-tax world, and capital market share assumed to be perfect. @) (i) If you own 2 per cent of the shares of Alpha Ltd., what is your return if the company has net operating income of 3,60,000 and the overall capitalisation rate of the company, K, is 18 per cent? (ii) What is the implied required rate of return on equity? 6) Beta Ltd. has the same net operating income as Alpha Ltd. (i) What is the implied requird equity return of Beta Ltd.? (ii) Why does it differ from that of Alpha Ltd