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尼克内姆 · 2020年04月05日

问一道题:NO.PZ2016021705000018 [ CFA I ]

问题如下:

With regard to capital budgeting, an appropriate estimate of the incremental cash flows from a project is least likely to include:

选项:

A.

externalities.

B.

interest costs.

C.

opportunity costs.

解释:

B  is correct.

Costs to finance the project are taken into account when the cash flows are discounted at the appropriate cost of capital; including interest costs in the cash flows would result in double-counting the cost of debt.

老师上课说ingore interest cost是错的,跟这里的not include是不是有矛盾?

尼克内姆 · 2020年04月05日

我其实分不清两个问题,问题1:financing cost和interest cost应该不考虑,但是被计入了wacc的折现项。那么课件里说ignore这两项是错误的,这个到底怎么说才对?问题2:financing cost是不是包括interest cost?为什么要单独把interest cost列出来呢?

1 个答案

Olive_品职助教 · 2020年04月07日

嗨,努力学习的PZer你好:


该知识点在基础班讲义第10页,cash flow里是不考虑interest cost的,interest cost在折现率里考虑。


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努力的时光都是限量版,加油!