首 页
题 库
经济学 Economics
化学 Chemistry
商学 Business
计算机 Computer Science
工学 Engineering
政治学 Politics
数学 Mathematics
设计学 Design
物理学 Physics
其他 Others
文献与笔记库
公告栏
联系我们
充值
登录/注册
登录/注册
首 页
题 库
经济学 Economics
化学 Chemistry
商学 Business
计算机 Computer Science
工学 Engineering
政治学 Politics
数学 Mathematics
设计学 Design
物理学 Physics
其他 Others
文献与笔记库
公告栏
联系我们
充值
经济学 Economics
宏观经济学
Macro Economics
微观经济学
Micro Economics
计量
Econometrics
国际贸易经济学
International Economics
实验与行为经济学
Experimental and Behaviroal Econo
公共经济学
Public Economics
工业经济学
Industrial Economics
金融经济学
Financial economics
化学 Chemistry
商学 Business
金融
Finance
财务会计
Accounting
数据工具
Statistic Software
管理学
Management
商业经济学
Business Economics
国际形势与商业政策
International situation and busi
金融经济学
Financial economics
计量
Econometrics
公司金融
Corporate finance
计算机 Computer Science
工学 Engineering
政治学 Politics
数学 Mathematics
分析
Analysis
几何学
Geometry
代数
Algebra
拓扑结构
Topology
统计学
Statistics
微积分
Calculus
设计学 Design
物理学 Physics
其他 Others
位置:
首页
/
题库
返回
16
ABC is an unleveraged company with an expected annual interest and pre-tax return of $2.2 million, a current market value of $20 million, a tax rate of 40%, a beta of 1 and a risk-free interest rate of 9% on its stock. The stock market risk premium (market return - Rf) is 6%. The company is considering adding more debt to its capital structure. The debt will be issued and used to repurchase shares so that the size of the company does not change. The debt has a no default interest rate of 12%, which would not be higher than 15% for the company. Since the interest expense is tax deductible, the value of the company will increase as the debt is added to the capital structure, but there will be an offset, which is a rise in bankruptcy costs. The firm's analysts estimate that the present value of any bankruptcy costs is $5 million and that the probability of bankruptcy will increase as leverage increases with the following schedule:
2023-10-16
仅会员查看
立即答题
17
Q4.1 What are the main underlying assumptions of the Miller-Modigliani hypothesis?
2023-10-16
仅会员查看
立即答题
18
Company DEF is a listed firm in the health industry. It reported net income of $ 150 million in 2019. It had capital expenditures of $ 65 million and depreciation of $ 30 million in 2019, and its non-cash working capital was $ 500 million (on revenues of $ 10 billion). The firm has a debt ratio of 10%, and plans to maintain this debt ratio. Income, cap ex, depreciation and revenues are all expected to grow 10% in 2020; non-cash working capital as a percent of revenues remains unchanged.
2023-10-16
仅会员查看
立即答题
19
Which of the following are examples of diversifiable risk?
2023-10-17
仅会员查看
立即答题
20
Which of the following statements reflect Modigliani and Miller’s views on dividend policy:
2023-10-17
仅会员查看
立即答题
«
1
2
3
4
5
6
7
8
...
19
20
»
>
看完解析还是没懂?
扫描二维码
专业研博老师为你解答
对不起,您还不是会员
只有会员才有权限查看并答题,快成为我们的会员吧!
立即开通会员