问题如下图:
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请问这题考的是什么知识点?为什么在强化班讲义中,没有找到呀?5-year period to adjust its dividend是什么意思?谢谢
NO.PZ2016012005000029问题如下The vinpoliof Berkshire Garns Increpresentea graaustment to a target vinpayout ratio. Last yeBerkshire hearnings per share of $3.00 anpaia vinof $0.60 a share. This yeit estimates earnings per share will $4.00. Finits vinper share for this yeif it ha 25 percent target payout ratio anuses a five-yeperioto aust its vinA.$0.68.B.$0.80.C.$0.85. A is correct. The estimatevinper share is US$0.68.Previous S = US$0.60 ExpecteEPS = US$4 Target payout ratio = 0.25 Five-yeaustment factor = 1/5 = 0.2 Expectevin= Previous vin+ (Expecteearnings × Target payout ratio − Previous vin × Austment factor = US$0.60 + [(US$4.00 × 0.25 − US$0.60) × 0.2] = US$0.60 + US$0.08 = US$0.68 这里的 this yeexpeEPS是4指的是第五年吗? 这种题题干具体怎么理解啊,我只能死记硬背但其实读不懂题目
NO.PZ2016012005000029问题如下The vinpoliof Berkshire Garns Increpresentea graaustment to a target vinpayout ratio. Last yeBerkshire hearnings per share of $3.00 anpaia vinof $0.60 a share. This yeit estimates earnings per share will $4.00. Finits vinper share for this yeif it ha 25 percent target payout ratio anuses a five-yeperioto aust its vinA.$0.68.B.$0.80.C.$0.85. A is correct. The estimatevinper share is US$0.68.Previous S = US$0.60 ExpecteEPS = US$4 Target payout ratio = 0.25 Five-yeaustment factor = 1/5 = 0.2 Expectevin= Previous vin+ (Expecteearnings × Target payout ratio − Previous vin × Austment factor = US$0.60 + [(US$4.00 × 0.25 − US$0.60) × 0.2] = US$0.60 + US$0.08 = US$0.68 李老在哪里讲到的这个austment factor?计算的时候完全没有关于这个的印象了,怎么理解在这道题里用的这个austment factor?
NO.PZ2016012005000029问题如下The vinpoliof Berkshire Garns Increpresentea graaustment to a target vinpayout ratio. Last yeBerkshire hearnings per share of $3.00 anpaia vinof $0.60 a share. This yeit estimates earnings per share will $4.00. Finits vinper share for this yeif it ha 25 percent target payout ratio anuses a five-yeperioto aust its vinA.$0.68.B.$0.80.C.$0.85. A is correct. The estimatevinper share is US$0.68.Previous S = US$0.60 ExpecteEPS = US$4 Target payout ratio = 0.25 Five-yeaustment factor = 1/5 = 0.2 Expectevin= Previous vin+ (Expecteearnings × Target payout ratio − Previous vin × Austment factor = US$0.60 + [(US$4.00 × 0.25 − US$0.60) × 0.2] = US$0.60 + US$0.08 = US$0.68 想请问一下,站在今年要用5年EPS变为4,即v变为1,那不是要用六年v从0.6变成1
NO.PZ2016012005000029问题如下The vinpoliof Berkshire Garns Increpresentea graaustment to a target vinpayout ratio. Last yeBerkshire hearnings per share of $3.00 anpaia vinof $0.60 a share. This yeit estimates earnings per share will $4.00. Finits vinper share for this yeif it ha 25 percent target payout ratio anuses a five-yeperioto aust its vinA.$0.68.B.$0.80.C.$0.85. A is correct. The estimatevinper share is US$0.68.Previous S = US$0.60 ExpecteEPS = US$4 Target payout ratio = 0.25 Five-yeaustment factor = 1/5 = 0.2 Expectevin= Previous vin+ (Expecteearnings × Target payout ratio − Previous vin × Austment factor = US$0.60 + [(US$4.00 × 0.25 − US$0.60) × 0.2] = US$0.60 + US$0.08 = US$0.68 计算这题的公式和讲义麻烦贴出来?
NO.PZ2016012005000029 问题如下 The vinpoliof Berkshire Garns Increpresentea graaustment to a target vinpayout ratio. Last yeBerkshire hearnings per share of $3.00 anpaia vinof $0.60 a share. This yeit estimates earnings per share will $4.00. Finits vinper share for this yeif it ha 25 percent target payout ratio anuses a five-yeperioto aust its vin A.$0.68. B.$0.80. C.$0.85. A is correct.Expectevin= Previous vin+ (Expecteearnings ×Target payout ratio – Previous vin × Austment factor)=$0.60+($4×0.25-$0.6)×0.2=$0.68 解题和书里的公式都是算每年均摊的v然后往上加。我第一次看这类型题的时候是这么解的 第五年目标eraning (4)=去年earning(3) x (1+g) 五次方,然后算出(1+g)再去乘去年的v=今年v。 这样哪里不对呢?