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吴超 Cassie · 2022年03月17日

No.PZ2016021705000027 (选择题)

  1. CFA I
  2. Corporate Issuers

NO.PZ2016021705000027

问题如下：

Fran McClure of Alba Advisers is estimating the cost of capital of Frontier Corporation as part of her valuation analysis of Frontier. McClure will be using this estimate, along with projected cash flows from Frontier's new projects, to estimate the effect of these new projects on the value of Frontier. McClure has gathered the following information on Frontier Corporation:

The weights that McClure should apply in estimating Frontier's cost of capital for debt and equity are, respectively:

选项：

A.

Wd= 0.200; We= 0.800.

B.

Wd= 0.185; We= 0.815.

C.

Wd = 0.223; We = 0.777.

解释：

C  is correct.

Wd= $63/($220 + 63) = 0.223

We= $220/($220 + 63) = 0.777


对于weights的确定，李老师只讲了用target-目标权重，既不用book value也不用market value来计算，所以多少和本题有点矛盾了。那么在没有告知target weights的时候，怎么预测呢，这部分内容在原版书有吗，麻烦老师补充一下，谢谢。

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1 个答案

王琛_品职助教 · 2022年03月20日

嗨，爱思考的PZer你好：


有的，请参考基础班讲义 P128

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努力的时光都是限量版，加油！

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NO.PZ2016021705000027问题如下FrMcClure of AlAisers is estimating the cost of capitof Frontier Corporation part of her valuation analysis of Frontier. McClure will using this estimate, along with projectecash flows from Frontier's new projects, to estimate the effeof these new projects on the value of Frontier. McClure hgatherethe following information on Frontier Corporation:The weights thMcClure shoulapply in estimating Frontier's cost of capitfor anequity are, respectively:A.W 0.200; We= 0.800.B.W 0.185; We= 0.815.C.W= 0.223; We = 0.777.is correct.W $63/($220 + 63) = 0.223We= $220/($220 + 63) = 0.777。。。。。。谢谢老师。。。

2023-03-20 08:02 1 · 回答

NO.PZ2016021705000027 问题如下 FrMcClure of AlAisers is estimating the cost of capitof Frontier Corporation part of her valuation analysis of Frontier. McClure will using this estimate, along with projectecash flows from Frontier's new projects, to estimate the effeof these new projects on the value of Frontier. McClure hgatherethe following information on Frontier Corporation:The weights thMcClure shoulapply in estimating Frontier's cost of capitfor anequity are, respectively: A.W 0.200; We= 0.800. B.W 0.185; We= 0.815. C.W= 0.223; We = 0.777. is correct.W $63/($220 + 63) = 0.223We= $220/($220 + 63) = 0.777 考的哪个知识点？虽然我知道考的是= wr1-T)+We*re但看了答案和之前的解答，还是无法理解。这里是如何使用公式的？

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    这个题为什么是用的预计的数字，而不是今年的数字呢？

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