请教金融系的同学一个问题，很着急

双头蛇棍

我去年APMI南澳毕业的，但是最后一门金融没有过，现在回国工作了，补修这门金融，哪位好心人帮我做两道题，我没法回新加坡了（学生证早到期了）网上找老师也不怎么帮我，最后一门很想赶快过掉，那位朋友能帮忙，我的联系方式QQ:150682944 MSN:[email protected] Nile Nile plc is considering an investment of capital to be raised form the issue of new ordinary shares and debentures in a mix which will hold its gearing ratio approximately constant. It wishes to estimate its weighted average cost of capital. The company has an issued share capital of 1 million ordinary shares of $1 each; it has also issued $800,000 of 8% debentures. The market price of ordinary shares is $4.76 per share and debentures are priced at $77 per cent. Dividends and interest are payable annually. An ordinary dividend has just been paid; the next instalment of interest is payable in the near future. Debentures are redeemable at par in twenty years time. A summary of the most recent balance sheet runs as follows: $’000 $’000 $’000 Ordinary share 1,000 Fixed assets 1,276 Capital Reserves 1553 Current assets 4,166 Deferred taxation 164 Less: current Debentures 800 liabilities 1,925 2,241 3,517 3517 Dividends and earnings have been as follows: Dividens Earnings Earnings (excluding before tax after tax tax credit) $’000 $’000 $’000 20x4 200 575 350 20x5 230 723 452 20x6 230 682 410 20x7 260 853 536 20x8 300 906 606 Assume that there have been no changes in the system or rates of taxation during the last five years, that the rate of corporation tax is 30%. Assume that ‘now’ is 20x8. (a) Calculate Nile plc’s weighted average cost of capital; Discuss briefly any difficulties and uncertainties in your estimation.