老师怎么上传照片啊？老师讲的percentilesmei没有听懂？

能不能讲一个买入期权和卖出期权的例子？

不管是Leesee还是leesor 是不是在没有资产的情况下（我说的是FL和OL）就算利息

A company purchased fixed asset for ￥500,000 on 1 January 2001. It's useful life is 10 years. Use a straight-line method for accounting purposes, but for tax purposes it is using the declining balance method at a rate of 20%. Given a tax rate of 30%, the deferred tax liability at the end of 2003 is closest to: A ￥9,820. B ￥4,880. C ￥28,200. 查看解析 上一题 提交试卷 正确答案C 您的答案A本题平均正确率：65% DTA & DTL难度：一般 推荐：      答案解析 The deferred tax liability is equal to the Tax rate × Temporary difference between the carrying amount of the asset and the tax base. 请问：税法上的折旧率0.2那表示是“五年”加速法折旧是吧？也就是说税法上除了方法和财务上不一样，折旧年限也可以不一样？

Reading 27 官方教材 Q10：关于EGREPS的取值，讲义中注释为 "expected real growth in GDP"。 对应题目中我根据这段话：“...Stock returns over 2004 to 2006 reflect the setbacks but economists predict the country will be on a path of a 4 precent real GDP growth by 2009." ——故而用4%作为EGREPS的取值。 但是答案中用的是5%。我猜是取值于"earnings in the public company sector are expected to grow at a 5% Per year real growth rate."。我知道 expected growth in real earning per share 可以视同 real GDP growth，但为什么前面提到的经济学家预测的真实GDP增长率不能用在Ibbotson-Chen公式里？

Reading 27 官方教材 Q9：烦请解释答案中最后两句话 （1）the short term interest rate, however, overstates the long term expected inflation：首先题干中的前提"current interest rate environment"对应case情景描述的哪个部分？其次，利率怎么影响通货膨胀的？ (2）Using the short-term interest rate, estimates of the long term required return on equity will be biased upwards：若根据题干，RoE 是（短期国债，历史ERP）的函数，ROE的估值为什么会受到利率的影响？

The author of a new textbook received a $100,000 advance from the publisher this year. $40,000 of income taxes were paid on the advance when received. The textbook will not be finished until next year. Determine the tax basis of the advance at the end of this year. A $0. B $40,000. C $100,000. 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：46% DTA & DTL难度：一般 推荐：      答案解析 For revenue received in advance, the tax base is equal to the carrying value minus any amounts that will not be taxed in the future. Since the advance has already been taxed, $100,000 will not be taxed in the future. Thus, the textbook advance liability has a tax base of $0 ($100,000 carrying value - $100,000 revenue not taxed in the future). 请问：这里涉及到tax base的公式吗？洪老师视频里没有讲到有关税基的计算，可否公式化说明

Reading 27 官方教材 Q8：不理解这道题目的答案逻辑。我的理解是Disruptive events of 2004 to 2006 会令市场在这期间对股价的要求回报率上升，因为ERP上升（由于国家风险溢价，外汇spread）。但长期来看，ERP normalised以后可能会降低，所以historical ERP是 biased upwards. 哪里错了？谢谢。

老师固定资产处置是不是就是出售固定资产啊？

假设3与4是不是重复?如果误差项的期望等于0那么他们一定同方差（constant)）不是吗