Q35.An analyst is developing net present value (NPV) profiles for two investment projects being considered by a company. The only difference between the two projects is that project 1 is expected to receive larger cash flows early in the project, while project 2 is expected to receive larger cash flows late in the life of the project. Compared to project 1, which of the following best describes the: Slope of the NPV profiles for project 2? Sensitivity of the NPV for project ? to Changes in the company cost of capital? A. flatter less sensitive B. flatter more sensitive C. steeper less sensitive D. steeper more sensitive
答案和详解如下：
Q35. D Study Session 11-47.e All else equal, a delay in the receipt of cash flows will make a project’s net present value more sensitive to changes in the discount rate; the increased sensitivity is illustrated by a steeper slope in the net present value profile.
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发表于 2007-11-7 09:53
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