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Frisbee · 2023年07月28日

发行股价和现有股价可以一样吗?

Trumpit Resorts Company currently has 1.2 million common shares of stock outstanding and the stock has a beta of 2.2. It also has $10 million face value of bonds that have five years remaining to maturity and 8 percent coupon with semi-annual payments, and are priced to yield 13.65 percent. If Trumpit issues up to $2.5 million of new bonds, the bonds will be priced at par and have a yield of 13.65 percent; if it issues bonds beyond $2.5 million, the expected yield on the entire issuance will be 16 percent. Trumpit has learned that it can issue new common stock at $10 a share. The current risk-free rate of interest is 3 percent and the expected market return is 10 percent. Trumpit's marginal tax rate is 30 percent. If Trumpit raises $7.5 million of new capital while maintaining the same debt-to-equity ratio, its weighted average cost of capital is closest to:

A. 14.5%.

B. 15.5%.

C. 16.5%.

Correct Answer: B


10块每股不是新股的发行价吗,不能代表现有股价也是10块啊

1 个答案

王琛_品职助教 · 2023年07月31日

嗨,努力学习的PZer你好:


同学的考虑是合理的

因为题干并没有特别说明当前的股价是多少,关于股价,也只有新股发行价 10 元每股这一个信息,所以就使用新股发行价来计算市值了

考试时题目会严谨,不会出现这种情况哈

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