NO.PZ201512300100001201
问题如下:
1. Based upon the information in Exhibit 1, the market value added of the hypothetical firm is closest to:
选项:
A.R65 million.
B.R113 million.
C.R168 million.
解释:
Market value added equals the market value of firm minus total accounting book value of total capital.
Market value added = Market value of company
Market value of firm = Market value of debt + Market value of equity
Market value of firm = R55 million + (30,000,000 × R25.43)
Market value of firm = R55 million + R762.9 million = R817.9 million
Market value added = R817.9 million
这样算出来的R600 million和题目中给出的条件R650 million之间差的R50 million可能是由于哪些方面的原因?