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Hi:
ACCA Past Paper Dec 2010 Q 4 Part b
In this question they asked to calculate the after-tax cost of debt. In the Financial Statement given they have Long-term borrowings under non-current liabs. and they also have preference shares under equity.
In the ACCA answer they only calculated the cost of the long-term borrowings. Why isn’t the cost of pref. shares calculated also? I thought pref. shares are considered as debt in F9.
Please explain
Thanks in advance for any help.
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