_________ （lavarse, tú) la cara después de desayunar.

Dinla Co has the following capital structure.

The ordinary shares of Dinla Co are currently trading at $4·26 per share on an ex dividend basis and have a nominal value of $0·25 per share. Ordinary dividends are expected to grow in the future by 4% per year and a dividend of $0·25 per share has just been paid.

The 5% preference shares have an ex dividend market value of $0·56 per share and a nominal value of $1·00 per share. These shares are irredeemable.

The 6% loan notes of Dinla Co are currently trading at $95·45 per loan note on an ex interest basis and will be redeemed at their nominal value of $100 per loan note in five years’ time.

The bank loan has a fixed interest rate of 7% per year.

Dinla Co pays corporation tax at a rate of 25%.

Required:

(a) Calculate the after-tax weighted average cost of capital of Dinla Co on a market value basis. (8 marks)

(b) Discuss the connection between the relative costs of sources of finance and the creditor hierarchy. (3 marks)

(c) Explain the differences between Islamic finance and other conventional finance. (4 marks)

听力原文：W: In public speaking, the watchword is preparation. Most of us tend to put things off, at least occasionally. It's so easy to put things off, especially those things we do not look forward to doing. So if a speaking engagement is several weeks off, we may feel we still have plenty of time. But as the day draws closer, we begin to panic. Do not let this happen to you. Start preparing as soon as you are given or accept the speaking assignment. You have much to do and to do it right will take time. How much better your speech will be and how much better you will feel, if you have taken the time to do it right.

When you are prepared, you have gathered the needed date, determined what is appropriate to the listeners' understanding and acceptance levels, organized the ideas so they flow logically, selected examples and other support for your ideas, and made them interesting to your listeners. Develop a great opening that you know will catch that attention of even day dreamers in your audience. Check out the room you will be speaking in. Request any feasible changes which you wish in the set-up of the room. If you are prepared, you are confident you can best convey your message to your listeners. If you have waited until a few days before your presentation to begin to prepare, or worse, yet, the day before, no doubt you will be anxious, and with good reasons. Now there is out enough time to engage in more than a superficial attempt; both you and your audience will feel uncomfortable. Like retirement planning, it is never too early to start preparing for your presentation. So start preparing right away.

What is the most important thing in public speaking?

A．Confidence.

B．Preparation.

C．Informativeness.

D．Organization.

We must ______ a solid foundation for the development of our heavy industry．

A．take

B．put

C．lay

D．raise

We must ______ a solid, foundation for the development of our heavy industry.

A．take

B．put

C．lay

D．raise

Anadministratorisworkingonarackmountserverwithallnewlyinstalledequipment.Theuninterruptiblepowersupply（UPS）intherackstartsbeepingloudly.Whichofthefollowingisthe FIRSTtroubleshootingstepthatshouldbetaken？（）

A.EnsurethatthepowercablefortheUPSispluggedin.

B.EnsurethebatteryintheUPSisstillgood.

C.CheckthesmartcableconnectingtheUPStotheserver.

D.ResettheUPStodetermineiftheproblempersists.

根据以下材料，回答题

Cancer Drug Trials Often Halted Early

An increasing number of clinical trials for new cancer treatments are being halted before the risks and benefits have been fully evaluated， say Italian researchers， who warn that this growing trend could put patients at risk of harm from new therapies rushed into use.

The researchers looked at 25 randomized， controlled clinical trials that were stopped early because the treatments had started to show benefit to patients.

"When we analyzed 25 trials over a 10-year period between 1997 and 2007， we found a consistent increase in prematurely stopped trials——more than 50 percent were stopped within the last three years，" study co-author Giovanni Apolone said at a news conference Tuesday.

Of 14 trials halted early and published between 2005 and 2007， the researchers found that 11（79 percent） of them were used to support drug approval applications submitted to the European Medicines Agency and the U.S. Food and Drug Administration.

"This suggests a strong commercial component in stopping trials prematurely. In fact， this strategy could guarantee quicker access to the market for companies. On the other hand， a quicker clinical drug development may lead to an "immature" benefit/risk balance of new drugs，"Apolone said.

He and his colleagues "are aware that trials stopped early because they are showing benefit may result in identification of promising new treatments for patients. However， findings obtained following this strategy should be considered to be preliminary results that require subsequent confmnation."

It can take several years for the long-term benefits or harmful side effects of a new treatment to become apparent， Apolone noted， but the average duration （持续时间） of the 25 studies he and his colleagues analyzed was 30 months， with a range from 12 to 64 months.

They also found that at the time five of the studies were stopped， they"d enrolled less than 40 percent of the total number of patients planned for final analysis.

"Clinical trials need to stop early for superior benefit whenever there"s proof beyond reasonable doubt that the new treatment really is superior. That would be an ethical obligation，"Stuart Pocock， a professor of medical statistics at the London School of Hygiene and Tropical Medicine in the United Kingdom， said at the news conference. "However， too many trials are stopped early claiming efficacy （功效） without strong evidence being available."

The number of prematurely stopped clinical trials has increased recently. 查看材料

A.Right

B.Wrong

C.Not mentioned

What occurred during the four centuries of attempted European conquest in

the Americas merely extended the continuum of history into a new arena. The

successes of these new arrivals and their descendants, consistent with the

Line historical tendencies in human behavior, came at the expense of people whose

(5) kinship-based tribal system still operated on communitarian, if exclusive,

principles. Only the tribes of the southern hemisphere had become fully settled

and had entered into their own era of empire-building. Unfortunately, the

European people had achieved both technological and organizational superiority

as these characteristics applied to the art of warfare whereas the tribes of the

(10) southern hemisphere had numbers in their favor but had no time for the adoption

of European weaponry or strategy, a situation that contrasted sharply with that

in North America where the tribes gained considerable access to modern

weapons and were more flexible in their strategies. The two most important

advantages the European-Americans possessed in the north was the endless

(15) stream of migration that more than replaced the population lost during warfare,

and a production system centered in large and relatively secure population

centers.

It can be inferred from the passage that from a historical perspective, the European conquest of the Americas can be viewed as

A．most similar to earlier successful conquests

B．most different from earlier failed conquests

C．most dissimilar to earlier successful conquests

D．most analogous to earlier failed conquests

E．unlike any earlier conquests in history, successful or not