NO.PZ2023091901000032
问题如下:
A manufacturing company has identified several growth opportunities and is seeking to raise capital in order to expand. The company currently has the following metrics:
Total debt: USD 100 million
Total equity: USD 100 million
Debt to equity ratio: 1
Levered equity beta: 1.75
Current effective tax rate: 25%
Management has submitted a proposal to issue additional debt in the amount of USD 100 million to pursue these opportunities. This strategy would also result in the company’s effective tax rate decreasing from 25% to 15%. Assuming there are no changes to the company’s unlevered asset beta or the market value of the company’s equity, the resulting levered equity beta would be within which of the following ranges?
选项:
A.
0.75 and 1.75
B.
1.75 and 2.50
C.
2.50 and 3.25
D.
3.25 and 4.00
解释:
levered β = (1+(1-t)* D/E)× unleveraged β这个也考吗