问一道题：NO.PZ2018101501000039

问题如下：

Company M, a pharmaceutical corporation, is going to expand its market to a foreign country. The company is in the 25% tax bracket. Matt, CFA, is evaluating the expansion project and collecting relevant information in the following exhibit. What’s the weighted average cost of capital for Company M?

选项：

13.125%

12.75%

13.5%

解释：

B is correct.

考点：Risk Analysis

解析：根据公式WACC = w_d*r_d*(1-T)+w_e*r_e，其中w_d和w_e是以市场价值为权重而非账面价值。

     WACC = 30%*10%*(1-25%)+70%*15% = 12.75%