【每日一练】ACCA F9（ June 2015）

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple  choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet.
Each question is worth 2 marks.

On a market value basis, GFV Co is financed 70% by equity and 30% by debt. The company has an after-tax cost of debt of 6% and an equity beta of 1·2. The risk-free rate of return is 4% and the equity risk premium is 5%.
What is the after-tax weighted average cost of capital of GFV Co?
A 5·4%
B 7·2%
C 8·3%
D 8·8%

Answer：

D
Cost of equity = 4 + (1·2 x 5) = 4 + 6 = 10%
WACC = (10 x 0·7) + (6 x 0·3) = 7 + 1·8 = 8·8%

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