这题

问题如下：

An analyst preparing a discounted cash flow model on 14 January 20X2 to value Kensington’s equity should deduct which of the following from the estimate of enterprise value to arrive at equity value?

选项：

4,774

4,984

28,879

解释：

A is correct. The analyst should deduct the net pension liability as of 31 Decem-ber 20X1 from the estimate of enterprise value to arrive at equity value, as if it were debt.

B is incorrect. This is the net pension liability from the beginning of 20X1.

C is incorrect. 28,879 is the gross benefit obligation. Deducting this from enter-prise value to arrive at equity value would ignore plan assets that are exclusively for the payment of benefits to plan beneficiaries.