NO.PZ2016021706000025
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. Using the dividend discount model, what's the cost of equity?
选项：
A. 9%.
B. 16%.
C. 19%.
解释：
B is correct.
Using the dividend discount model: D1=D0(1+g)=3*(1.07)=3.21;kce=(D1/P0)+g=(3.21/36)+0.07=16%.
如题，capm为啥不能用
