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Alice_090 · 2019年12月31日

问一道题：NO.PZ201511200300000706

  1. CFA III
  2. 个人IPS

* 问题详情，请 查看题干

问题如下：

6. How much after-tax wealth would Motelli accumulate assuming the same facts as in Question 4 except that 50 percent of all capital gains are recognized each year?

选项：

A.

€640,747.

B.

€665,747.

C.

€678,158.

解释：

C is correct.

r* = r(1–pcgtcg)

= 0.075(1–(0.5)(0.10)) = 0.075(1–0.05) = 0.07125

T* = tcg(1–pcg)/(1–pcgtcg)

= 0.10[(1–0.5)/(1–0.5× 0.10)] = 0.052632

FVIFTaxable = (1 + r*)n(1–T*) + T*–(1–B)tcg, B = 1

FV =€250,000×[(1+0.07125)15(1–0.052632) + 0.052632]

= €678,158

请问为什么这道题里的pcg是0.5，pcg的定义是需要被征收资本利得税的那部分价格，题目中的0.5是要cg中被确认的比例，不太懂中间的关系是什么

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1 个答案

包包_品职助教 · 2020年01月02日

嗨，努力学习的PZer你好：


Pcg的本身就是指 已实现资本收益征税的比例，P指的是portion的意思

 原版书上是这么介绍的：another portion is taxed as realized capital gain (pcg) at tcg. 


-------------------------------
努力的时光都是限量版，加油！


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相关问题

NO.PZ201511200300000706 能不能详细说明一下适用于哪些情景，看到相关题目能够反应出来

2021-03-11 20:26 1 · 回答

老师，请问这题是考察blentax还是哪个？不知道该用何种方法解决，请详细讲解一下，谢谢啦

2020-12-20 09:48 1 · 回答

€665,747. €678,158. C is correct. r* = r(1–pcgtcg) = 0.075(1–(0.5)(0.10)) = 0.075(1–0.05) = 0.07125 T* = tcg(1–pcg)/(1–pcgtcg) = 0.10[(1–0.5)/(1–0.5× 0.10)] = 0.052632 FVIFTaxable = (1 + r*)n(1–T*) + T*–(1–B)tcg, B = 1 FV =€250,000×[(1+0.07125)15(1–0.052632) + 0.052632] = €678,158能帮忙画饼图一下吗？

2020-09-22 17:59 3 · 回答

€665,747. €678,158. C is correct. r* = r(1–pcgtcg) = 0.075(1–(0.5)(0.10)) = 0.075(1–0.05) = 0.07125 T* = tcg(1–pcg)/(1–pcgtcg) = 0.10[(1–0.5)/(1–0.5× 0.10)] = 0.052632 FVIFTaxable = (1 + r*)n(1–T*) + T*–(1–B)tcg, B = 1 FV =€250,000×[(1+0.07125)15(1–0.052632) + 0.052632] = €678,158这题是画饼干的那个方法吗？是有realize有unrealizecg时候就要想这个方法吗？

2020-05-12 19:52 1 · 回答

€665,747. €678,158. C is correct. r* = r(1–pcgtcg) = 0.075(1–(0.5)(0.10)) = 0.075(1–0.05) = 0.07125 T* = tcg(1–pcg)/(1–pcgtcg) = 0.10[(1–0.5)/(1–0.5× 0.10)] = 0.052632 FVIFTaxable = (1 + r*)n(1–T*) + T*–(1–B)tcg, B = 1 FV =€250,000×[(1+0.07125)15(1–0.052632) + 0.052632] = €678,158这一提B为什么等于1呢 不是等于17500吗

2020-03-13 14:12 1 · 回答