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Angel PLC

Capital Structure
Cost WACC (BV) MV prop. WACC (MV)
Equity Capital 107 16.17% 10% 3.14 335.98 13.55%
7.2% loan stock 67 7% 3% 0.97 64.99 1.13%
174 13% 400.97 14.675%
Cost of Debt Cost of Equity
PV -97 CMP 2.1
FV 105 Dividend 0.18
N 3 G 7%
PMT 7.2 R 16.17%
YTM 9.9164%
tax rate 30%
Kd 6.9415%

Using IRR 0 -97 -97


1 7.2 0.7 5.04
2 7.2 0.7 5.04
3 112.2 0.7 110.04
9.9164% 7.743%
6.9415%
0.19

Ke
-85
7 0.7 4.9
7 0.7 4.9
7 0.7 104.9
11%

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