In mid-2015, Qualcomm Inc. had $11 billion in debt, total equity capitalization of $87 billion, and an equity beta of 1.32 (as reported on Yahoo Finance). Included in Qualcomm's assets was $22 billion in cash and risk-free securities. Assume that the risk-free rate of interest is 2.9% and the market risk premium is 4.1%.
a. What is Qualcomm's enterprise value?
b. What is the beta of Qualcomm's business assets?
c. What is Qualcomm's WACC?