李同学2019-02-21 15:52:30
01.单选题 已收藏 标记 纠错 Which of the following statements is correct? A The appropriate tax rate to use in the adjustment of the before-tax cost of debt to determine the after-tax cost of debt is the average tax rate because interest is deductible against the company's entire taxable income. B For a given company, the after-tax cost of debt is generally less than both the cost of preferred equity and the cost of common equity. C For a given company, the investment opportunity schedule is upward slop-ing because as a company invests more in capital projects, the returns from investing increase. 查看解析 下一题 正确答案B 您的答案A本题平均正确率:48% WACC难度:困难 推荐: 答案解析 B is correct. Debt is generally less costly than preferred or common stock. The cost of debt is further reduced if interest expense is tax deductible. 问: 1.A口否翻译一下?2.B可否再解释一下,我觉得债券和股票成本没关系吧?
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Amy2019-02-21 19:08:21
同学你好,A选项:在计算税后债务融资成本时,应该使用公司的平均税率。这是不对的,我们应该使用债务对应的税率。
B选项:一个公司的债务成本往往低于优先股融资成本和普通股融资成本,因为债务是优先清偿的,它的风险低于股票,而这里提到的债务成本还是扣除税之后的,比股票成本会更低。
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