记得notes上是说明flotation costs是作为initial outflow而不计入资本的成本中去的
而sample exam第二套的第37题：
A company is planning a new issue of $100 par preferred stock with a 12% dividend. The preferred stock can be sold for $95 per share and the company must pay flotation costs of 5% of the market price. The cost of the preferred stock is closest to...
答案是 100*0.12/(95*1.05) 将flotation cost反映在了资本的成本中 请问到底是怎么回事？？？？ | 
发表于 2009-11-24 14:47
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