1.Assume a firm's debt is risk-free, so that the cost of debt equals the risk-free rate, Rf. Define βA as thefirm's asset beta-that is, the systematic risk of the firm's assets. Define βE to be the beta of thefirm's equity. Use the capital asset pricing model (CAPM) along with M&M Proposition II to showthat βE =βA x (1+D/E), where D/E is the debt-equity ratio. Assume the tax rate is zero.
【Andy Wang】評論
想請問這題怎麼算~謝謝
【Yu-zhen Teng】評論
複利現值 3期 9%=0.772183 故票據現值為$10,000*0.772183=$7,721.83第一年利息=$7,721.83*9%=$694.96第二年利息=($7721.83+$694.96)*9%=$757.51請算到小數第二位，答案才會與選擇題答案相同