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| Input Data (Millions Except Per Share Data) | | | | Source |
| Tax rate | | | 39% |
| Debt (D) | | | $2,119,560,000.00 | Morningstar Bonds + 10K Note 5 |
| Number of common shares (n) | | | 728,100,000 | Google Finance |
| Stock price per share (P) | | | $12.81 | Wall Street Journal |
| Capital Structure (Millions Except Per Share Data) |
| Market value of equity (S = P ´ n) | | | $9,326,961,000.00 |
| Total value (V = D + S) | | | $11,446,521,000.00 |
| Percent financed with debt (wd = D/V) | | | 18.5% |
| Percent financed with stock (ws = S/V) | | | 81.5% |
| Cost of Capital |
| Cost of debt (rd) | | | 3.26% | Morningstar Bonds Weighted cost of debt |
| Beta (b) | | | 1.14 | Beta from 5 years data |
| Risk-free rate (rRF) | | | 2.87% | 30 Year Treasury Yield, WSJ, 4/5/13 |
| Market risk premium (RPM) | | | 6.54% |
| Cost of equity from CAPM (rs = rRF + b ´ RPM ) | | | 10.31% |
| Cost of Equity from Dividend Growth Model |
| Future Dividend Growth Rate | | | 10.60% |
| 2012 Dividend $ | | | 0.0345 |
| Share Price $ (4/5/13) | | | $ 12.81 |
| Cost of Equity from Dividend Growth Model | | | 10.90% |
| Cost of Equity from Bond Plus Markup |
| Cost of debt | | | 3.26% |
| Risk Markup | | | 7.20% |
| Cost of Equity from Bond Plus Markup | | | 10.46% |
| Average rs | | | 10.6% |
| WACC | | | 8.97% |