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  • Pembahasan Exercise CH 9 Cost of Capital

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    Ghina Nabila
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    The documents contain calculations for yield to maturity, cost of various types of stocks including preferred stock and common stock, weighted average cost of capital (WACC), and examples of its calculation using both book value and market value weights. Information provided includes par values, coupon rates, dividends, proceeds, time periods, tax rates, and prices used to determine rates of return for debt and equity instruments. Formulas are presented and calculations are shown step-by-step to derive costs for the different securities. WACC is also illustrated using both accounting and market weights for the capital components.

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    pembahasan exercise ch 9 Cost of Capital

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    The documents contain calculations for yield to maturity, cost of various types of stocks including preferred stock and common stock, weighted average cost of capital (WACC), and examples of its calculation using both book value and market value weights. Information provided includes par values, coupon rates, dividends, proceeds, time periods, tax rates, and prices used to determine rates of return for debt and equity instruments. Formulas are presented and calculations are shown step-by-step to derive costs for the different securities. WACC is also illustrated using both accounting and market weights for the capital components.

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    Download as XLSX, PDF, TXT or read online from Scribd
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    24 views4 pages

    Pembahasan Exercise CH 9 Cost of Capital

    Uploaded by

    Ghina Nabila
    The documents contain calculations for yield to maturity, cost of various types of stocks including preferred stock and common stock, weighted average cost of capital (WACC), and examples of its calculation using both book value and market value weights. Information provided includes par values, coupon rates, dividends, proceeds, time periods, tax rates, and prices used to determine rates of return for debt and equity instruments. Formulas are presented and calculations are shown step-by-step to derive costs for the different securities. WACC is also illustrated using both accounting and market weights for the capital components.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 4

    E9-1 YIELD TO MATURITY

    par 20000 C+(par value - net proceed)/n


    flotation 2% 400 (par value + net proceed / 2)
    n 10
    coupon 8% 1600
    net proceed 19600 par kurang flotasi

    E9-2 COST OF PREFERRED STOCK rp


    par 80 40
    dividend 8% 6.4 annual dividend 6%
    flotation 2.5 5
    net proceed 77.5 35
    rp 8% annual dividend / net proceed

    P9-3 YTM
    par 1000 C+(par value - net proceed)
    coupon 10% 100 (par value + net proceed / 2)
    net proceed 1200
    n 7
    tax 25%

    E9-3 COST OF COMMON STOCK Growth model


    dividend 6.5 D1/P0 + r
    p 78
    r 7%

    E9-4 WACC
    debt 35% WACC 11.25%
    equity 65%

    after tax 8%
    estimated c 13%

    P9-7 COST OF PREFERRED STOCK


    dividen 6% 6 cost ps 6.28%
    par 100
    flotation 3 net 93
    harga jual 98.5 dividend 10 10%
    net proceed 95.5 cost of ps 10.75%

    P9-8
    Preferred par sale flotation annual d net proceed
    A 25 28 3 6%
    B 55 63 5 8%
    C 20 28 2 3
    D 100 112 5 12%
    E 33 43 2.5 7%
    E9-10 COST OF COMMON STOCK EQUITY
    price 57.5 year dividen return
    dividen 3.4 2015 3.1 6.16%
    2014 2.92 12.31%
    2013 2.6 13.04%
    2012 2.3 8.49%
    2011 2.12
    total 40.00%
    rata-rata 10.00%

    E9-14 WACC BOOK WEIGHT & MARKET WEIGHT


    BOOK VALUE
    source of capital book value market value after tax 78.43%
    long term debt $ 4,000,000.00 $ 3,840,000.00 6% 0.78%
    preferred stock $ 40,000.00 $ 60,000.00 13% 20.78%
    common stock $ 1,060,000.00 $ 3,000,000.00 17%
    $ 5,100,000.00 $ 6,900,000.00

    CARA KEDUA BOOK VALUE WACC


    book value market value after tax $ 240,000.00
    $ 4,000,000.00 $ 3,840,000.00 6% $ 5,200.00
    $ 40,000.00 $ 60,000.00 13% $ 180,200.00
    $ 1,060,000.00 $ 3,000,000.00 17% $ 425,400.00
    $ 5,100,000.00 $ 6,900,000.00
    steo by step
    value - net proceed)/n 1640 input data diketahui
    ue + net proceed / 2) 19800 cari nominal flo dan coupon
    hitung net proceed
    8.283% hitung h2 dan h3
    h2/h3
    8.302%
    step by step
    input data diketahui
    2.4 hitung nominal dividend
    hitung net proceed
    hitung rp

    value - net proceed) 71.428571428572


    ue + net proceed / 2) 1100

    6.49%

    15.33%

    cost of ps
    6.00%
    7.59%
    11.54%
    11.21%
    5.70%
    growth 9.97%

    pv 2.12
    fv 3.1

    WACC MARKET VALUE WACC


    4.71% 55.65% 3.34%
    0.10% 0.87% 0.11%
    3.53% 43.48% 7.39%

    10.84%

    ALUE WACC MARKET VALUE WACC


    $ 230,400.00
    $ 7,800.00
    $ 510,000.00
    $ 748,200.00

    8.34% 10.84%

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