Repo Corp. has hired you to calculate its cost of capital. It has $60 million in debt, $20 million in preferred stock and $120 million in common stock and its tax rate is 40%. Its bonds have semi-annual coupons, an annual coupon rate of 9.79%, a face value of $1,000 and a maturity of 20 years. The current market value of each bond is $1000. The preferred stock has a current market value of $40.00 and a dividend of $4.50 per year. The common stock will pay a dividend of $1.85 in 1 year, has a current price of $26.00 and a growth rate of 6%. What is the required return on Repo's preferred stock, rp

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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