2012 level I：degree of total leverage中I的计算问题 total, annual, following, quality

adjani.zhang

Question:
Given the following information on the annual operating results for ArtFrames, a producer of quality metal picture frames,
what is
the degree of operating leverage (DOL) and the degree of financial leverage (DFL)?

adjani.zhang

回复 1# adjani.zhang

adjani.zhang

S-TVC
DTL= ----------
     S-TVC-F-I

I到底怎么算，基于coupon rate, 还是bond yield?
Notes中那里有解释吗？

谢谢