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ruby5ltc · 2023年06月03日

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NO.PZ201710200100000102

问题如下:

2. Assuming the incumbent government retains office in Canada, Peters and her team estimate that the current value of Company ABC stock would be closest to:

选项:

A.

C$22.18.

B.

C$23.60.

C.

C$25.30.

解释:

B is correct.

The value of ABC stock can be computed as follows:

Given: Dividend (D0) = C$0.65, Return (r) = 7.35%, Short-term growth (gS) = 12% for 4 years, Long-term growth (gL) = 3.5% thereafter. Then:

D1 = D0(1 + gS)1 = 0.65(1.12) = C$0.7280

D2 = D0(1 + gS)2 = 0.65(1.12)2 = C$0.8154

D3 = D0(1 + gS)3 = 0.65(1.12)3 = C$0.9132

D4 = D0(1 + gS)4 = 0.65(1.12)4 = C$1.0228

P4 = [D4 (1 + gL)]/(r gL) = [D4 (1.035)]/(0.0735 – 0.035) = C$27.4960.

V0 = D1/(1 + r)1 + …. + D4/(1 + r)4 + P4/(1 + r)4.

V0 = [0.7280/(1.0735)1] + [0.8154/(1.0735)2] +[ 0.9132/(1.0735)3] + [1.0228/(1.0735)4] + [27.4960/(1.0735)4]

= C$23.5984 (rounded to C$23.60).

CF0=0,C01=0.728,C02,0.8154,C03=0.9132,C04=(1.0228+27.496),r=1.0735,计算器算出来的NPV=29.728806,请问哪里错了

1 个答案

王园圆_品职助教 · 2023年06月03日

同学你好,r不是1.0735,而是7.35%,所以计算器应该输入的是7.35

或者如果你这些都按对了还是出现计算不对的话,应该就是你计算器之前没有清零干净?

如果确认也清零干净了,R也输入正确了,还是算不对的话,那可能你需要跟辅导员咨询一下怎么重置计算器了,这种情况下就应该是计算器有问题了

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2024-08-11 13:34 1 · 回答

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2020-10-25 20:23 2 · 回答

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2018-03-24 06:27 1 · 回答

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2018-02-03 10:52 1 · 回答