NO.PZ201602170500003203
问题如下:
3. Using the capital asset pricing model, the cost of equity capital for a company in this industry with a debt-to-equity ratio of 0.01, asset beta of 2.27, and a marginal tax rate of 23 percent is closest to:
选项:
A.17 percent.
B.21 percent.
C.24 percent.
解释:
B is correct.
Asset beta = 2.27
Levered beta = 2.27 {1 + [(1 − 0.23)(0.01)]} = 2.2875
Cost of equity capital = 0.0525 + (2.2875)(0.07) = 0.2126 or 21.26%
0.0525+2.28 /0.07这个式子没看懂。。。