benniewang · 2019年11月25日
问题如下：
2. Based on MM propositions with corporate taxes, what is Bema’s weighted average cost of capital after the completion of its announced debtfinanced share repurchase program?
选项：
A.6.52%.
B.7.83%.
C.8.88%.
解释：
C is correct.
[#PZMATH442#]
[#PZMATH443#] =10+(10-6)(1-0.30)(0.60)=10+1.68=11.68%
Therefore,
[#PZMATH444#]
[#PZMATH445#]
答案无法正常显示需要处理
NO.PZ201601200500002202 7.83%. 8.88%. C is correct. re=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)rer_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_ere=r0+(r0−r)(1−t)(E),anwacc=(V)r(1−t)+(VE)re re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re=r0+(r0−r)(1−t)(E) =10%+(10%-6%)(1-30%)(0.60)=10%+1.68%=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc=(V)r(1−t)+(VE)re (0.61.6)(6%)(1−0.3)+(1.01.6)(11.68%)=1.58%+7.3%=8.88%{(\frac{0.6}{1.6})}(6\%)(1-0.3)+{(\frac{1.0}{1.6})}(11.68\%)=1.58\%+7.3\%=8.88\%(1.60.6)(6%)(1−0.3)+(1.61.0)(11.68%)=1.58%+7.3%=8.88% r0等于10％从哪里看出
NO.PZ201601200500002202 老师好， finance明白是债务融资，但是后面又跟了一个share repurchase program我就晕了，怎么还跟股票有关了呢？ 麻烦老师帮我讲下“bt-financeshare repurchase program”的意思，谢谢老师
NO.PZ201601200500002202 7.83%. 8.88%. C is correct. lre=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)re{l}r_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_elre=r0+(r0−r)(1−t)(E),anwacc=(V)r(1−t)+(VE)re re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re=r0+(r0−r)(1−t)(E) =10+(10-6)(1-0.30)(0.60)=10+1.68=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc=(V)r(1−t)+(VE)re (0.61.6)(6)(1−0.3)+(1.01.6)(11.68)=1.58+7.3=8.88%{(\frac{0.6}{1.6})}(6)(1-0.3)+{(\frac{1.0}{1.6})}(11.68)=1.58+7.3=8.88\%(1.60.6)(6)(1−0.3)+(1.61.0)(11.68)=1.58+7.3=8.88% 老师您好，答案里的rre怎么都不带百分号啊，我加了百分号之后算出来没有答案…
7.83%. 8.88%. C is correct. lre=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)re{l}r_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_elre=r0+(r0−r)(1−t)(E),anwacc=(V)r(1−t)+(VE)re re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re=r0+(r0−r)(1−t)(E) =10+(10-6)(1-0.30)(0.60)=10+1.68=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc=(V)r(1−t)+(VE)re (0.61.6)(6)(1−0.3)+(1.01.6)(11.68)=1.58+7.3=8.88%{(\frac{0.6}{1.6})}(6)(1-0.3)+{(\frac{1.0}{1.6})}(11.68)=1.58+7.3=8.88\%(1.60.6)(6)(1−0.3)+(1.61.0)(11.68)=1.58+7.3=8.88%问完问题才看到下面的题目信息，差太远了这距离，，，，，忽略我的问题
7.83%. 8.88%. C is correct. lre=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)re{l}r_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_elre=r0+(r0−r)(1−t)(E),anwacc=(V)r(1−t)+(VE)re re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re=r0+(r0−r)(1−t)(E) =10+(10-6)(1-0.30)(0.60)=10+1.68=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc=(V)r(1−t)+(VE)re (0.61.6)(6)(1−0.3)+(1.01.6)(11.68)=1.58+7.3=8.88%{(\frac{0.6}{1.6})}(6)(1-0.3)+{(\frac{1.0}{1.6})}(11.68)=1.58+7.3=8.88\%(1.60.6)(6)(1−0.3)+(1.61.0)(11.68)=1.58+7.3=8.88%我不太明白题目说的finanrepurchase 这句，，，，，麻烦下如何就得到的关系是0.6
