C is incorrect. A company does not necessarily raise more funds according to its target capital structure because of the economies of scale in raising new capital and market conditions. These short-run deviations are due to the "lumpiness" of security issuance. The marginal cost of capital may increase, reflecting these deviations. 这个解析啥意思？ The cost of additional funds from various sources rises as higher levels of financing are achieved. 这句话后半句看不懂， 来源不同地筹资成本增加，是随着更高地融资？

C is incorrect. A company does not necessarily raise more funds according to its target capital structure because of the economies of scale in raising new capital and market conditions. These short-run deviations are due to the "lumpiness" of security issuance. The marginal cost of capital may increase, reflecting these deviations. 这个解析啥意思

C is incorrect. A company does not necessarily raise more funds according to its target capital structure because of the economies of scale in raising new capital and market conditions. These short-run deviations are due to the "lumpiness" of security issuance. The marginal cost of capital may increase, reflecting these deviations. 这个解析啥意思

Price/Book Value里的Price不是Intrinsic Value么？怎么能直接用市价的30呢？

老师好，怎么理解存托凭证存在套利机会？

LT debt 为什么没有计算呢?

老师，请问如何理解“核销坏账”这个词，请一并举例说明。谢谢

high water mark为什么不是120？

老师，关于这题，有以下几个疑问： 1. 我们通常不是说时间越长，市场的利率相对来说会越加稳定吗，这个说法在这里不成立？区别是什么，请解释下。 2. CR=LIBOR＋Q.M，如果是Inverse floater,CR=X%-LIBOR,那随着市场利率下降，CR是上升的，按照现金流折现求和计算出的P岂不是更大。 3. C答案中是不是只有在Cap这个点的时候才会成立？

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