Shing
2023-04-27 09:281) 想問這題cost of equity是怎算出來的。 2) weight of debt 和equity怎計(jì)出40和60
所屬：CFA Level I > Corporate Issuers 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個(gè)回答
roushan助教
2023-04-27 13:50
該回答已被題主采納
1：“stock has a beta of 2.2.”“The current risk-free rate of interest is 3 percent and the expected market return is 10 percent.”根據(jù)文中給出的這兩句話，可得出β=2.2， rf=3%， rm-rf=10%-3%=7%，把數(shù)據(jù)代入capm模型re=rf+β(rm-rf)，就可以算出csot of equity了；
2：因?yàn)轭}目中告訴我們是要保持原有資本結(jié)構(gòu)不變所以，所以資本結(jié)構(gòu)是在新融資之前的權(quán)重，根據(jù)“Happy Resorts Company currently has 1.2 million common shares of stock outstanding and the stock has a beta of 2.2. It also has $10 million face value of bonds that have five years remaining to maturity and 8 percent coupon with semi-annual payments, and are priced to yield 13.65 percent. ”這句話，我們可以計(jì)算出equity和debt的市值：Market value of debt: FV = $10,000,000, PMT = $400,000, N = 10, I/Y = 6.825%. Solving for PV gives the answer $7.999,688. Market value equity: 1.2 million shares outstanding at $10 = $12,000,000
最后算出分別約等于40和60
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