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AFTER TAX EX PREFFERED

jenis proporsi biaya modal WACC 40%


DEBT 40% 3.59% 1.44% 10%
PREFFERED STOCK 10% 9.09% 0.91% 50%
NEW COMMON STOCK 50% 10.47% 5.24%
TOTAL 7.58%

BEFORE TAX
jenis proporsi biaya modal WACC
DEBT 40% 5.98% 2.39%
PREFFERED STOCK 10% 9.09% 0.91%
NEW COMMON STOCK 50% 8.93% 4.47%
TOTAL 7.77%

AFTER TAX ALL


jenis proporsi biaya modal WACC
DEBT 40% 3.59% 1.44%
PREFFERED STOCK 10% 5.45% 0.55% 0.054540
NEW COMMON STOCK 50% 5.36% 2.68%
TOTAL 4.66%

P9-19
DEBT
i 8% 80
n 20
disc 30
flotation cost 30
par value 1000

kd 83 0.08556701030928
970 8.56% betul
after tax 0.05134 5.13%

b. PREFFERED STOCK
PAR 95
NET 95-5 90 NP
DP 7 7.6

PS= 0.077778 7.78% 8.44


AFTER TAX 0.046667 4.67%

b. PREFFERED STOCK #2
PAR 95
NET 95-5 90 NP
DP 7 7.60 PAKE 8%
PS= 0.077778 7.78% 0.084444 8.44%
AFTER TAX 0.046667 4.67% 0.050667 5.07%

C. COMMON STOCK
D 7
PAR 90
FLO 5
UNDERPRICE 7
NET PROCEED 78
G 6% 0.06

CS 0.089744 0.06
0.149744 14.97% bener
AFTER TAX 0.089846 8.98%

D. WACC
BEFORE TAX
jenis proporsi biaya modal WACC
DEBT 30% 5.13% 1.54%
PREFFERED STOCK 20% 8.44% 1.69%
COMMON STOCK 50% 14.97% 7.49%
TOTAL 10.72%

AFTER TAX AFTER TAX EX PREFFERED


jenis proporsi biaya modal WACC jenis proporsi
DEBT 30% 5.13% 1.54% DEBT 30%
PREFFERED STOCK 20% 4.67% 0.93% PREFFERED 20%
COMMON STOCK 50% 8.98% 4.49% COMMON S 50%
TOTAL 6.97% TOTAL

BEFORE TAX
jenis proporsi biaya modal WACC
DEBT 30% 8.56% 2.57%
PREFFERED STOCK 20% 8.44% 1.69% PAKE 7.6
COMMON STOCK 50% 14.97% 7.49%
TOTAL 11.74%

AFTER TAX
jenis proporsi biaya modal WACC
DEBT 30% 5.13% 1.54%
PREFFERED STOCK 20% 5.07% 1.01% PAKE 7.6
COMMON STOCK 50% 8.98% 4.49%
TOTAL 7.05%
1,000,000
2,500,000 400,000
10,000,000 100,000
2,000,000 500,000

4,500,000,000.00
7,500,000,000.00

100000
56666.6666666667
156666.666666667
1850000
925000
0.16936936936937
0.10162162162162
10.16% 1,030,000
15%
154,500
120000
8000
108000
1880000
940000
0.114893617021277
11.49%
0.0689
6.89%
EX PREFFERED
biaya modal WACC
5.13% 1.54%
8.44% 1.69%
8.98% 4.49%
TOTAL 7.72%
850000
56666.67
156666.7

150000
880,000

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