NO.PZ2016021706000031
问题如下:
Adam Company is planning to invest in a project with a $100,000 initial cash outlay. This new project is expected to generate cash flows of $30,000 every year in the next ten years. The flowing is the information of Adam company:
Adam Company will finance the project with a debt-to-equity ratio of 1.5. The dollar amount of flotation cost is $3000 for the equity of this project. What's the NPV for the project?
选项:
A. $90,039.
B. $91,236.
C. $100,030.
解释:
B is correct.
Re = 2.5/50+ 0.05= 10%
D/E=1.5, Wd=60%, We=40%
WACC = 0.60*0.08 + 0.40*0.1 = 8.8%
N=10, I/Y=8.8, PMT=30000, FV=0, CPT PV=194236.275
NPV = -$103000+$194236.275 = $91236.275.
老师,请您讲讲这道题里用的Re的计算是什么公式