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标题: 帮我看看这道题,谢谢! [打印本页]

作者: jiaxin0511 时间: 2008-9-3 12:42 标题: 帮我看看这道题,谢谢!

Ten years ago,a firm issued $10 million in $1,000par value bands with an 8 percent coupon rate paid annually.The bonds mature 15 years from today and now sell 97 percent of their par value.If the firm's marginal tax rate is 28 percent,what is its after-tax cost of debt?
A.5.76% B.5.94% C.6.02% D.8.36%

我怎么解的跟答案不一样啊?哪位高人帮我解答下哈!多谢!

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作者: jiaxin0511 时间: 2008-9-3 19:12

论坛这么冷清啊,怎么一天了都没人帮解答一下啊,郁闷...

作者: Cody2008 时间: 2008-9-5 23:47

我算的答案是C啊，楼主的正确答案是多少？

作者: jiaxin0511 时间: 2008-9-6 20:13

是C,请把过程发上来好吗?多谢了!

作者: Cody2008 时间: 2008-9-7 10:48

Ten years ago,a firm issued $10 million in $1,000par value bands with an 8 percent coupon rate paid annually.The bonds mature 15 years from today and now sell 97 percent of their par value.If the firm's marginal tax rate is 28 percent,what is its after-tax cost of debt?
A.5.76% B.5.94% C.6.02% D.8.36%

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这个貌似很直接的计算啊，

PV=-1000*0.97=-970; PMT=1000*0.08=80; FV=1000; N=15 -> I/Y=8.358191

所以after-tax cost of debt = 8.358191*(1-0.28)=6.017898=6.02

作者: jiaxin0511 时间: 2008-9-7 21:58

留个Q好吗?刚开始学习,很多不懂,I/Y是什么?解答下好吗?多谢了!

作者: Cody2008 时间: 2008-9-8 08:14

不好意思，Q基本被封，留了也没有啥用

I/Y是计算器上的一个按键，以上所列的步骤都是用计算器算出来的，代表的意思就是discount rate，Notes上Quant部分的TVM有TI计算器的详细使用说明，楼主有空不妨看看~~

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