NO.PZ2018101501000034
问题如下：
Company M is investing in a four-year project, relevant information is shown in the following table. The company is in the 25% tax bracket and the weighted average cost of capital is 10%. What`s the economic profit in the first year?
选项：
A.16,500
B.14,500
C.-16,500
解释：
B is correct.
考点：Other Valuation Models
解析：根据公式EP = NOPAT – $WACC
= EBIT × (1 – Tax rate) - WACC × Capital
= 30,000 × (1-0.25) – 0.1 × 80,000
= 14,500
为什么计算$WACC的时候capital用的是80,000而不是60,000? 如果计算第二年的economic profit, 用的是第一年的assets来计算$WACC吗？
