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Examine the following book-value balance sheet for University Products Inc. The preferred stock currently sells for $15 per share and pays a dividend of $3 a share. The common stock sells for $20 per share and has a beta of 0.7. There are 1 million common shares outstanding. The market risk premium is 9%, the risk-free rate is 5%, and the firm's tax rate is 21%. BOOK-VALUE BALANCE SHEET(Figures in $ millions)Assets Liabilities and Net Worth Cash and short-term securities$3.0 Bonds, coupon = 7%, paid annually (maturity = 10 years, current yield to maturity = 9%)$10.0 Accounts receivable 5.0 Preferred stock (par value $20 per share) 3.0 Inventories 9.0 Common stock (par value $0.10) 0.1 Plant and equipment 20.0 Additional paid-in stockholders' equity 16.9 Retained earnings 7.0 Total$37.0 Total$37.0
a. What is the market debt-to-value ratio of the firm?
b. What is University's WACC?
(For all the requirements, do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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