问题如下图:如图,我觉得2021年终值应该这样算的?为什么没有多乘以一个1.03?
选项:
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解释:
NO.PZ201710200100000202 问题如下 2. Using her first valuation approaanExhibit 1, Withers’s forecast of the per share stovalue of Ukon Corporation the enof 2017 shoulclosest to: A.EUR 48. B.EUR 50. C.EUR 51 C is correbaseon Withers’s assumptions applieto the vinvaluation mol. The stovalue of the enof 2017 equals the present value of all future vin in 2018 through 2021 plus the present value of the terminvalue the enof 2021. The forecastestovalue equals EUR 51.254:57.98060.79544.68620222.815(1.03) = 2.899Total51.254The terminvalue the enof 2021 is calculateusing the vinin the first yebeyonthe first stage, vithe fferenbetween the requirerate of return anthe growth rate in the seconstage.Terminvalue enof 2021 = 2.815*(1.03)/ ( 0.08−0.03 ) =57.980 能画个图把时间点标注一下吗
NO.PZ201710200100000202 问题如下 2. Using her first valuation approaanExhibit 1, Withers’s forecast of the per share stovalue of Ukon Corporation the enof 2017 shoulclosest to: A.EUR 48. B.EUR 50. C.EUR 51 C is correbaseon Withers’s assumptions applieto the vinvaluation mol. The stovalue of the enof 2017 equals the present value of all future vin in 2018 through 2021 plus the present value of the terminvalue the enof 2021. The forecastestovalue equals EUR 51.254:57.98060.79544.68620222.815(1.03) = 2.899Total51.254The terminvalue the enof 2021 is calculateusing the vinin the first yebeyonthe first stage, vithe fferenbetween the requirerate of return anthe growth rate in the seconstage.Terminvalue enof 2021 = 2.815*(1.03)/ ( 0.08−0.03 ) =57.980 我计算方式是第二阶段的GGM=2.68*1.03/0.05=55.208,跟答案不一致,但没觉得哪里有错?
NO.PZ201710200100000202 问题如下 2. Using her first valuation approaanExhibit 1, Withers’s forecast of the per share stovalue of Ukon Corporation the enof 2017 shoulclosest to: A.EUR 48. B.EUR 50. C.EUR 51 C is correbaseon Withers’s assumptions applieto the vinvaluation mol. The stovalue of the enof 2017 equals the present value of all future vin in 2018 through 2021 plus the present value of the terminvalue the enof 2021. The forecastestovalue equals EUR 51.254:57.98060.79544.68620222.815(1.03) = 2.899Total51.254The terminvalue the enof 2021 is calculateusing the vinin the first yebeyonthe first stage, vithe fferenbetween the requirerate of return anthe growth rate in the seconstage.Terminvalue enof 2021 = 2.815*(1.03)/ ( 0.08−0.03 ) =57.980 这题的答案我有点蒙,我算是2.315/1.08+2.315/1.08^ 2+。。。+(2.315*(1.05^ 4)(1.03)/(0.08-0.03)),跟答案里的不一样,答案里每年v都在三年基础上乘,这个和我这种说法的区别点在哪里?
NO.PZ201710200100000202 为什么不用(1+g)/(1+r)?算
NO.PZ201710200100000202 如题,我自己用计算器得出的答案是55点多,和对不上,想看看是哪一步有问题