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陆佳莹 · 2021年12月04日

这道题C选项moved beyond the optimal range怎么理解？

  1. CFA I
  2. Corporate Issuers

NO.PZ2021091701000029

问题如下：

The current weighted average cost of capital (WACC) for Van der Welde is 10%. The company announced a debt offering that raises the WACC to 13%. The most likely conclusion is that for Van der Welde:

选项：

A.

the company’s prospects are improving.

B.

equity financing is cheaper than debt financing

C.

the company’s debt/equity has moved beyond the optimal range.

解释：

C is correct. If the company’s WACC increases as a result of taking on additional debt, the company has moved beyond the optimal capital range. The costs of financial distress may outweigh any tax benefits to the use of debt.

这道题A和C都不太确定，可否讲解一下，谢谢

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1 个答案

王琛_品职助教 · 2021年12月05日

嗨，爱思考的PZer你好：


这道题的难点可能在于，同学们读完题后，不知道考查的是哪个知识点

这道题其实考查的是 Static Trade-Off Theory

之前刚好有同学问过选项 A 和 C，请同学先参考一下：https://class.pzacademy.com/qa/90030

如果同学还是有不确定的地方，可以再追问哈，我再回答

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就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

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