PPT23页，视频54分钟里的例题中，老师讲A选项和C选项都对。但是答案是C选项。那A选项到底是对还是错，如果错了的话错在哪里了？

16题 其实没用到PI 只是算三个选项中的组合哪个NPV最大是吗 谢谢

14题 capital 为什么分别是100和50？ 是初始投资减去当年折旧吗？ 此处的capital怎么定义的？

老师好，12题 cf=（s-c-d)(1-t)+d=(50-50*0.12-50)(1-0.3)+50 为什么不对呢

17.单选题 收藏 标记 纠错 Hitch changes its target capital structure to 70% equity and 30% debt from its original capital structure with 100% equity financing. Hitch has a large asset base, a 30% operating profit margin, and the average interest rate on debt is expected to be 5.0%. If Hitch makes the change to its target capital structure and EBIT is unchanged, what is most likely the impact on Hitch's net income and return on equity (ROE) respectively? A Decrease; Increase B No Change; Increase C Decrease ;Decrease 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：55% WACC难度：容易 推荐：      答案解析 You should be able to figure out this question with logic (without having to use calculations). The interest expense associated with using debt represents a fixed cost that reduces net income. However, the lower net income value is spread over a smaller base of equity capital, serving to increase the ROE. 问：没明白关联到哪个知识点，可否进一步讲解？

第15题所说的熊市不应该是市场不好的情况吗？市场不好的情况下为什么要扩大IPO？以及BC选项哪里错了？

希望解释一下第七题和第九题分别的选项

c答案，有效久期不是用市场上观测到的v-和v+来计算的吗？观测到的不就是past price吗？

视频里好像没有讲Marshall-Lerner condition这一块的东西

11.单选题 已收藏 标记 纠错 Wang Securities had a long-term stable debt-to-equity ratio of 0.65. Recent bank borrowing for expansion into South America raised the ratio to 0.75. The increased leverage has what effect on the asset beta and equity beta of the company? A The asset beta and the equity beta will both rise. B The asset beta will remain the same and the equity beta will rise. C The asset beta will remain the same and the equity beta will decline. 查看解析 上一题 下一题 正确答案B 您的答案A本题平均正确率：68% WACC难度：容易 推荐：      答案解析 B is correct. Asset risk does not change with a higher debt-to-equity ratio. Equity risk rises with higher debt. 问：解释没有听懂，能不能进一步解释？和那个去杠杆 加杠杆的公式有没有关系？