问题如下:
4. Under her Scenario 1 and based on Exhibit 2, the required rate of return that Withers used for Venus Company stock valuation is closest to:
选项:
A.8.0%.
B.9.6%.
C.10.0%.
解释:
C is correct, based on Exhibit 2 and the H-model.
Estimate the required rate of return using Equation:
r = (D0/P0)[(1 + gL) + H (gS - gL)] + gL
Substitute the following:
D0 = 3.15
gS = 8%
gL = 4%
H = 4 ÷ 2 = 2
The model thus produces
r =(3.15/58.79) [(1 + 0.04) + 2 (0.08 - 0.04)] + 0.04
= (0.053581 × 1.12) + 0.04
= 0.060010 + 0.04 = 0.10001 ≈ 10%
老师,为什么不选已知中的8%?The required rate of return for Venus Company is 8%.之前解答说这个8%是情景2的条件,可已知没有说是情景2的条件呀?