张同学2020-12-07 10:36:01
老师好!题目如下: A 20-year $1,000 fixed-rate non-callable bond with 8% annual coupons currently sells for $1,105.94. Assuming a 30% marginal tax rate and an additional risk premium for equity relative to debt of 5%, the cost of equity using the bond-yield-plus-risk-premium approach is closest to: A 9.9% B 12% C 13% 答案是B,为什么这里的R不用抵扣税呢?谢谢!
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Vicky2020-12-07 13:35:48
同学你好,
因为这里需要计算的是股权的融资成本,只有债务融资才会产生利息,才会有税盾的效果哦。
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