22. 20% Return pa 0.0524 Times by Difference 0.7493 Higher Divided by Range 15.649 Range between high and low 11.73 Higher return 0.07 Difference in % 0.15 Lowest % IRR = original % +
23.
24.
25.
26. WACC 0 Cost of Cap % X Gearing Cost of equity WACC Cost of debt