You need to figure out the value of Royal. Calculate the rat What is Royal's after-tax cost of debt? Royal PLC issued a 10-year I rate of 4.5% and is currently trading at a price of 107. Royal has a curr outstanding, and its beta is 0.6. The market risk premium is 5.8%. Roy credit. Provide justification for your choices. If using a financial Balance Sheet 2014 2015 Current assets Current liabil Inventories 22 20 Trade and other receivables 926 949 Cash and current financial asse 369 348 1,317 1,317 Non-current Non-current assets Property, plant and equipment 1,989 1,933 Goodwill and intangible assets 392 482 Retirement benefit asset 1,723 3,179 Other non-current assets 55 80 4,159 5,674 Total equity Total assets 5,476 6,991 One Month Interbank Lending Rate and Governme 1 month 5 month 10 year bo 0.51 1.46 2.03