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一只可爱的猪 · 2021年04月17日

有疑问

* 问题详情,请 查看题干

NO.PZ201810160100000103

问题如下:

Based on Exhibit 1, if Yeta’s management implemented Proposal #3 at the current share price, earnings per share would:

选项:

A.

decrease.

B.

remain unchanged.

C.

increase.

解释:

C is correct. In the case of external funding, a company’s earnings per share will increase if the stock’s earnings yield, which is the ratio of earnings per share to share price, exceeds the after-tax cost of borrowing. Yeta’s earnings yield is 9.10% (= $1.82/$20.00), which exceeds the after-tax cost of borrowing of 8.50%.

A is incorrect because EPS will increase (not decrease) if the stock’s earnings yield (= $1.82/$20.00) exceeds the after-tax cost of borrowing. Yeta’s earnings yield of 9.10% exceeds the after-tax cost of borrowing of 8.50%.

B is incorrect because EPS will increase (not remain unchanged) if the stock’s earnings yield (= $1.82/$20.00) exceeds the after-tax cost of borrowing. Yeta’s earnings yield of 9.10% exceeds the after-tax cost of borrowing of 8.50%.

这里我计算了一下,因为借债有利息所以成本是40*8.5%,要从earning里减去,1。82*100-40*8.5%/98=1.55 为什么我算出来的EPS反而小了呢

1 个答案

王琛_品职助教 · 2021年04月18日

嗨,从没放弃的小努力你好:


我看同学的公式列的没问题呀,是不是计算器按错了?

(1.82x100-40x8.5%)/(100-2)=1.822449

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