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XIUGINGMAN · 2023年02月01日

解释没太理解,这里是用pure play来求吗?

NO.PZ2022090805000003

问题如下:

The following information is available for a firm:


The firm’s unleveraged beta is closest to:

选项:

A.0.75. B.1.20. C.1.05.

解释:

Solution

A is correct. Find the comparable firm’s beta: (10.4% – 2.0%)/7.0% = 1.20.

Unlever the comparable firm’s beta: βL,comparable/[1 + (1 – Tax rate) × Debt-to-equity ratio]

1.20/[1 + (1 – 40%) × 1.0] = 0.75.

B is incorrect because it is the comparable firm’s beta.

C is incorrect because the comparable firm’s beta is computed as 1.68 = (10.4% – 2.0%)/(7.0% – 2.0%) and then proceeds to the next calculation.

麻烦老师再详细说一下

1 个答案

王琛_品职助教 · 2023年02月02日

嗨,努力学习的PZer你好:


是的,同学对考点的识别是正确的

这道题我之前刚好总结过,请同学先参考一下:https://class.pzacademy.com/qa/116118

如果还有疑问,可以追问或者评论,我再回答同学的后续问题哈

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