Nikko Ltd. has 11 million shares of common stock outstanding. The current share price is $68, and the book value per share is $6.
It also has two bonds outstanding. The first bond issue has a total face value of $70 million, has a 7 percent coupon rate, and sell for 93 percent of par. The second issue has a total face value of $55 million, has a 8 percent coupon rate, and sells for 104 percent of par. The first issue matures in 21 years, the second one in 6 years. The first bond has a YTM of 7.68%, the second bond has a YTM of 7.17%.
The most recent dividend was $4.10 and the dividend growth rate is 6% forever. The tax rate is 20%.
What is the company’sRE,RD, and WACC?
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