请问蓝框的公式在课程里哪里讲的,没有印象了
Debrah_品职答疑助手 · 2020年09月20日
同学你好,这道题目根据FCFE=NI+Dep-WC-FC+NB公式计算即可,部分数值需要自己从题目中找已知条件:
①NI=1.8
②根据已知条件“Net capital expenditures (fixed capital expenditures minus depreciation) will be 30% of EPS.”所以FCinv-Dep=30%*1.8
③根据已知条件“Investments in working capital will be 10% of EPS.”,WCinv=10%*1.8
④根据已知条件“Of future investments, 60% will be financed with equity and 40% will be financed with debt.”,NB=(WCinv+FCinv-Dep)*DR=40%*1.8*40%
所以FCFE=1.8-30%*1.8%-10%*1.8+40%*40%*1.8=1.368