BYPRP approach ，全称是什么？

问题如下：

An analyst estimates a required return on equity for a company using the BYPRP approach.

The analyst estimates the yield on the company’s bonds as 4.3% and a historical risk premium of 6.1% earned by equity investors relative to long-term corporate bond yields.

The estimate of the required return on equity for the company using the BYPRP approach is closest to:

选项：

A.

1.8%

B.

6.1%

C.

10.40%

解释：

C is correct.

The required return on equity for the company using the BYPRP approach is estimated at 10.40%, calculated as re = 0.043 + 0.061 = 0.1040