问题如下:
When assembling the cash flows to calculate an NPV or IRR, the project’s after-tax interest expenses should be subtracted from the cash flows for:
选项:
A.the IRR calculation, but not the NPV calculation.
B.both the NPV calculation and the IRR calculation.
C.neither the NPV calculation nor the IRR calculation.
解释:
C is correct.
Financing costs are not subtracted from the cash flows for either the NPV or the IRR. The effects of financing costs are captured in the discount rate used.
这个题不应该选B吗?financing cost是cash flow应该忽略的项目。在分子考虑,那么现金流就不考虑。