问题如下:
Aldrich Company has a debt-to-equity ratio of 2.0, and a marginal tax rate of 30%. Aldrich is considering a project in the clothing distribution industry and planning to use TAT Company as a comparable firm.TAT Company is a publicly traded firm that operating clothing distribution business only, which has a debt-to-equity ratio of 1.5, a marginal tax rate of 30%, and an equity beta of 1.1. The project beta that Aldrich considering is most likely to be?
选项:
A.0.44.
B.0.88.
C.1.29.
解释:
C is correct.
The project beta calculated using the following formulas:
βasset = βequity [1/(1+((1-t)*D/E)]
βproject = βasset
Beta asset=1.1*[1/(1+(1-30%)*1.5)]=0.537
Beta project= 0.537[1+(1-30%)*2]=1.29
助教您好,请麻烦用李老师自己写的公式算一下好吗?楼上的解答也依然是用教材的公式来算的。李老师的写法是A*BetaA = E*BetaE. 谢谢。