NO.PZ2018062002000181
问题如下：
Peter collected the following forecasted information for Umbrella Company:
The value of equity for Umbrella Company is closest to:
选项：
A.$161.3 million.
B.$285.7 million.
C.$228.1 million.
解释：
A is correct.
EV = 9× 25,000,000 = $225,000,000
Equity value = EV – Debt + Cash
= 225,000,000 –65,000,000 + 1,300,000
= $161,300,000
考点：Asset-based Valuation
解析的计算过程已经很详细了，唯一指的注意的是题目让我们根据enterprise value的公式来计算 equity value，所以需要把EV的公式调整一下：
market value of equity=EV-market value of preferred equity - market value of debt+cash and short-term investments
为什么要加回现金
