(b) Amount of annual annuity of 8% bond 1
Annual split between interest and capital repayment of 8% bond 2
Operating profit for first four years 1
Finance costs 2
Tax payable for the first four years 1
Dividend payable for the first four years 1
Book values of debt and of equity in years 1 to 4 2
Gearing levels and concluding comment 2
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12