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OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
wwwwkwoo Jeanadt. Cann Cann.os omit* Ow win faun *Oa 'wawa* Ow Iota Can wen • anew! IWItwwW. Can wows fame! WWWw WO W.., Sanao IC wwwuptalea Sanao Ia wwwuptalea Sofa la warn sonralm Uslomanewlets wouwww " ,WI Yaw 2. IP pa Ww ati Stunt bic ;weal Irenmeteculatwo ueeral.610".. bic reneallrenmet
OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
wwwwkwoo Jeanadt. Cann Cann.os omit* Ow win faun *Oa 'wawa* Ow Iota Can wen • anew! IWItwwW. Can wows fame! WWWw WO W.., Sanao IC wwwuptalea Sanao Ia wwwuptalea Sofa la warn sonralm Uslomanewlets wouwww " ,WI Yaw 2. IP pa Ww ati Stunt bic ;weal Irenmeteculatwo ueeral.610".. bic reneallrenmet
OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
wwwwkwoo Jeanadt. Cann Cann.os omit* Ow win faun *Oa 'wawa* Ow Iota Can wen • anew! IWItwwW. Can wows fame! WWWw WO W.., Sanao IC wwwuptalea Sanao Ia wwwuptalea Sofa la warn sonralm Uslomanewlets wouwww " ,WI Yaw 2. IP pa Ww ati Stunt bic ;weal Irenmeteculatwo ueeral.610".. bic reneallrenmet
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