葛同学2018-05-17 17:09:08

23. Two years ago, a company issued $20 million in long-term bonds at par value with a coupon rate of 9 percent. The company has decided to issue an additional $20 million in bonds and expects the new issue to be priced at par value with a coupon rate of 7 percent. The company has no other debt outstanding and has a tax rate of 40 percent. To compute the company's weighted average cost of capital, the appropriate after-tax cost of debt is closest to: A. 4.2%. B. 4.8%. C. 5.4%. 这道题 两个都是平价发行bond 那不应该是加权平均来计算rd吗？ 为什么只考虑了新的Bond， 老的bond的rd不用考虑进WACC的计算中吗？