在练习题第九题：题目开头是：Bobby Lee is an equity analyst for the US investment management firm Larocque & Frères. Larocque & Frères has a substantial ownership stake in Skylark Industries, a US-based company that operates in several business segments related to defense. 第六个单选题：Given Skylark's current capital structure and Miller's assumption about the dividend's effect on the cost of equity, initiating a dividend will result in a price-to-earnings multiple closest to: The Gordon growth model can be used to calculate the P/E as the payout ratio divided by the difference between cost of equity and growth. In this case, the payout ratio would be 50%, cost of equity would drop from the current 10% (see table) to 9%, and the growth rate is 7%. The leading P/E is 0.5/(0.09 – 0.07) = 25×. 这个答题解析中的0.09是怎么来的呢？

为什么Ln A =0?

在讲uncovered IRP时讲到利率高的国家货币会贬值，但在第二张图和第三张图时为什么又是利率高的货币升值

在讲uncovered IRP时讲到利率高的国家货币会贬值，但在第二张图和第三张图时为什么又是利率高的货币升值

区块链中已经存在的previous blocks之后能否修改？不能更改的话，按照老师讲的，我们在交易中的每一个动作不管有用没用重不重要都会被记录下来，那是不是意味着政府只要有权能获取所有的秘钥，就可以查看远比现在更为详细的所有的信息？

老师，原版书上关于sensitivity analysis 的这段话我没太明白，如果高收益和投机级债券对于creadit spread 的敏感度是一样的话，那对应credit spread 带来价格的波动应该是一样的啊？？

能否解释一下这个表的相关元素，及要表达的意思及跟考点的相关知识。

请问这部分内容讲义在哪里有？是否可以再详细解释一下？

请问这部分内容讲义在哪里有？

能不能深入详细解释一下中间那段，关于recoverable amount with carrying amount.