Submit your answer to each of the problems and show the calculations you used to arrive at the answer. You must show calculations to receive credit.
Yield to maturity on long-term government bonds: 4.4%
Yield to maturity on company long-term bonds: 6.3%
Coupon rate on company long-term bonds: 7%
Historical excess return on common stocks: 6.5%
Company equity beta: 1.20
Stock price: $40.00
Number of shares outstanding (millions): 240
Book value of equity (millions): $5,240
Book value of interest-bearing debt (millions): $1,250
Tax rate: 35.0%
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