total income is 1,600, which consists of 580 gross profit and 1,020 interest income, but if we exclude salvage value 600.这段话的最后一句but if we exclude salvage value 600怎么理解？是包括还是不包括残值？

请问下这题为什么不能选B，确认information是否accurate。

04.单选题 已收藏 标记 纠错 Which of the following statements is most accurate regarding the impact of financial leverage on a company's net income and return on equity (ROE)? A If a firm has a positive operating profit margin, using financial leverage will always increase ROE. B Increasing financial leverage increases both risk and potential return of existing bondholders. C Using financial leverage increases the volatility of ROE for a level of volatility in operating income. 查看解析 上一题 下一题 正确答案C 您的答案B本题平均正确率：46% Leverage and risk难度：一般 推荐：      答案解析 问：A选项可否再推导一下，C选项可否再解释一下？

另外bond yield + risk premium这个公式里，它define risk premium是histotical spreads between bond yield and stock yield。问题1：但是股东要求回报不是要比债权人高吗？为什么是bond yield minus stock yield? 问题2：这个bond yield是公司本身的bond还是市场里的类似bond 问题3：stock yield就是这个公司的历史股票回报率吗？这个历史股票回报率在实际中怎么算？谢谢

例题中给了阿根廷政府的10年期债券收益率为9%，也给了risk-free rate是4.5%。假如题目没给RF,是不是可以用这个阿根廷的10年期政府债券作为RF呢？但是这个债券收益率与RF差的也太多了。

02.单选题 已收藏 标记 纠错 A company has decided to switch to using accelerated depreciation from straight-line depreciation. Holding other factors constant, the degree of total leverage will most likely: A increase. B decrease. C not change. 查看解析 上一题 下一题 正确答案A 您的答案A本题平均正确率：56% Leverage and risk难度：一般 推荐：      答案解析 Calculate and interpret the degree of operating leverage, the degree of financial leverage, and the degree of total leverage. A is correct. Based on Equation : The change to accelerated depreciation increases the fixed costs, making DTL (degree of total leverage) increase (i.e., the numerator does not change and the denominator decreases) 问：The change to accelerated depreciation increases the fixed costs 加速折旧为啥会增加FC，能否简单逻辑推导？

这些recommended procedures for compliance 都没有仔细的讲 是因为考试不会考到？还是比较简单需要自己去看？因为网上的framework包括了这一部分，不知道需不需要去花时间

老师您好，请问图片上标蓝部分是什么意思？谢谢

P*Q-VC*Q-FC不就是EBIT或者叫oprating profit吗？那公式直接将分母改为EBIT不就可以了吗

老师你好，类似这种题目，请问面值和账面价值之间的差额反应在哪里了呢？