NO.PZ2016021706000023
问题如下：
TAT Company has a target capital structure of 30% debt and 70% equity. And the company's marginal tax rate is 20%.
The information about the bond and the equity is shown in the following tables.
What's the company's after-tax cost of debt?
选项：
A.8%.
B.9%.
C.10%.
解释：
A is correct.
The company's after-tax cost of debt = rd (1-t) = (10%)*(1-20%)= 8%.
为什么marginal tax rate是T而不是rd呢？
为什么不用第一个表格的其他数字求出I/Y，而是直接用表格中的YTM呢？表格中给的收益率是到期收益率呀，但是债券不是提前卖出了么？
