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求助 关于COST OF CAPITAL

今天看了NOTES的COST OF CAPITAL,其中的一句话我弄不明白。The after-tax savings would be the WACC, based on our target captial structure, times the total value of the securities that are no longer outstanding.这句话是什么意思啊,什么叫times the total value of the securities that are no longer outstanding啊?[em06]

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