问一道题：NO.PZ201601200500002202 第2小题 [ CFA II ]

NO.PZ201601200500002202 7.83%. 8.88%. C is correct. re=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)rer_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_ere​=r0​+(r0​−r)(1−t)(E),anwacc​=(V)r(1−t)+(VE​)re​ re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re​=r0​+(r0​−r)(1−t)(E) =10%+(10%-6%)(1-30%)(0.60)=10%+1.68%=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc​=(V)r(1−t)+(VE​)re​ (0.61.6)(6%)(1−0.3)+(1.01.6)(11.68%)=1.58%+7.3%=8.88%{(\frac{0.6}{1.6})}(6\%)(1-0.3)+{(\frac{1.0}{1.6})}(11.68\%)=1.58\%+7.3\%=8.88\%(1.60.6​)(6%)(1−0.3)+(1.61.0​)(11.68%)=1.58%+7.3%=8.88% r0等于10％从哪里看出

NO.PZ201601200500002202 老师好， finance明白是债务融资，但是后面又跟了一个share repurchase program我就晕了，怎么还跟股票有关了呢？ 麻烦老师帮我讲下“bt-financeshare repurchase program”的意思，谢谢老师

NO.PZ201601200500002202 7.83%. 8.88%. C is correct. lre=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)re{l}r_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_elre​=r0​+(r0​−r)(1−t)(E),anwacc​=(V)r(1−t)+(VE​)re​ re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re​=r0​+(r0​−r)(1−t)(E) =10+(10-6)(1-0.30)(0.60)=10+1.68=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc​=(V)r(1−t)+(VE​)re​ (0.61.6)(6)(1−0.3)+(1.01.6)(11.68)=1.58+7.3=8.88%{(\frac{0.6}{1.6})}(6)(1-0.3)+{(\frac{1.0}{1.6})}(11.68)=1.58+7.3=8.88\%(1.60.6​)(6)(1−0.3)+(1.61.0​)(11.68)=1.58+7.3=8.88% ​老师您好，答案里的rre怎么都不带百分号啊，我加了百分号之后算出来没有答案…

7.83%. 8.88%. C is correct. lre=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)re{l}r_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_elre​=r0​+(r0​−r)(1−t)(E),anwacc​=(V)r(1−t)+(VE​)re​ re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re​=r0​+(r0​−r)(1−t)(E) =10+(10-6)(1-0.30)(0.60)=10+1.68=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc​=(V)r(1−t)+(VE​)re​ (0.61.6)(6)(1−0.3)+(1.01.6)(11.68)=1.58+7.3=8.88%{(\frac{0.6}{1.6})}(6)(1-0.3)+{(\frac{1.0}{1.6})}(11.68)=1.58+7.3=8.88\%(1.60.6​)(6)(1−0.3)+(1.61.0​)(11.68)=1.58+7.3=8.88%问完问题才看到下面的题目信息，差太远了这距离，，，，，忽略我的问题

7.83%. 8.88%. C is correct. lre=r0+(r0−r(1−t)(),anwacc=()r1−t)+(EV)re{l}r_e=r_0+(r_0-r_(1-t)(\fr),an\r_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_elre​=r0​+(r0​−r)(1−t)(E),anwacc​=(V)r(1−t)+(VE​)re​ re=r0+(r0−r(1−t)()r_e=r_0+(r_0-r_(1-t)(\fr)re​=r0​+(r0​−r)(1−t)(E) =10+(10-6)(1-0.30)(0.60)=10+1.68=11.68% Therefore, rwacc=()r1−t)+(EV)rer_{wacc}={(\fr)}r_1-t)+{(\frEV)}r_erwacc​=(V)r(1−t)+(VE​)re​ (0.61.6)(6)(1−0.3)+(1.01.6)(11.68)=1.58+7.3=8.88%{(\frac{0.6}{1.6})}(6)(1-0.3)+{(\frac{1.0}{1.6})}(11.68)=1.58+7.3=8.88\%(1.60.6​)(6)(1−0.3)+(1.61.0​)(11.68)=1.58+7.3=8.88%我不太明白题目说的finanrepurchase 这句，，，，，麻烦下如何就得到的关系是0.6