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Stella · 2021年04月17日

为什么不是PV0*wacc?

NO.PZ201601200500000705

问题如下:

5. The economic income in euros for the Fontenot Company is:

选项:

A.

17.24 in Year 1 and 9.11 in Year 2.

B.

17.76 in Year 1 and 24.89 in Year 2.

C.

24.89 in Year 1 and 17.76 in Year 2.

解释:

A is correct.

Economic income is the cash flow plus the change in value, or economic income is the cash flow minus the economic depreciation (we will use the second expression):

lV0=851.12+851.122=143.65V1=851.12=75.89V2=0{l}V_0=\frac{85}{1.12}+\frac{85}{1.12^2}=143.65\\V_1=\frac{85}{1.12}=75.89\\V_2=0

Economic income (Year 1) = CF1(V0V1)CF_1-(V_0-V_1)

= 85 – (143.65 – 75.89)

= 85 – 67.76 = €17.24

Economic income (Year 2) = CF2(V1V2)CF_2-(V_1-V_2)

= 85 – (75.89 – 0)

= 85 – 75.89 = €9.11

如题,EI的原本公式变形之后应该是PV0*re,本题可以这么做吗
1 个答案

王琛_品职助教 · 2021年04月18日

嗨,努力学习的PZer你好:


可以呀,Economic income (Year 1) 为 143.65 x 12% = 17.238

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努力的时光都是限量版,加油!