Taking into account parameters obtained in the preceding points, the cost-of-capital rate for the 2016 financial year was calculated, by applying the formula for pre-tax weighted average cost-of-capital1, having been obtained a rate by 8.7304% (vide table 9).
|
Parameters |
2016 |
|
Risk-Free Interest Rate |
3.09% |
|
Debt Premium |
1.58% |
|
Beta |
0.767 |
|
Risk Premium |
6.77% |
|
Gearing |
42.58% |
|
Tax Rate |
29.50% |
|
Cost of equity |
8.28% |
|
Pre-tax WACC |
8.7304% |
Source: ANACOM calculation and Mazars Report
