Answer and Explanation:
The computation is shown below:
As we know that
According to the Capital Asset Pricing Model (CAPM) formula
Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)
And, the market rate of return - Risk-free rate of return is also known as the market risk premium
As we can see that the Alcoa contains high beta as compared to Hormel Foods so the Alcoa has a higher equity cost of capital
And, the higher rate is
= (Excess return of the market) × (Alcoa beta - Hormel foods beta)
= (3%) × (1.85 - 0.39)
= 3% × 1.46
= 4.38%
. yes, because he didnt pay within the grace period
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