NO.PZ2022101402000003
问题如下：
Which of the following statements concerning cost of capital factors is least likely correct?
选项：
A.Developed economies typically have more established, liquid capital markets with greater capital availability than those of developing economies.
The ERP demanded by investors tends to increase during recessions and decrease during expansionary times.
C.The lower a company’s marginal income tax rate, the greater the tax benefit associated with using debt in the capital structure.
解释：
C is correct.
The higher a company’s marginal income tax rate, the greater the tax benefit associated with using debt in the capital structure
对于C很容易想到税盾的公式 rd（1-T）
那么T变大的话，上式是变小的。这个逻辑就跟C不匹配。
请教老师，从上面的公式出发，如何可以得到C不正确的结论
