答案和详解如下！ Question 71 Which component cost of capital in a firm’s weighted average cost of capital (WACC) is most likely to be affected by taxes? The cost of: A) common equity. B) retained earnings. C) debt. D) preferred equity.
The correct answer was C) debt. The weighted average cost of capital (WACC) may be expressed as:
WACC = [(wd)(kd)(1 − t)] + (wps)(kps) + (wce)(kce)
As indicated in the WACC formula, corporate taxes only directly affect the firm’s cost of debt. This question tested from Session 11, Reading 45, LOS b As indicated in the WACC formula, corporate taxes only directly affect the firm’s cost of debt. This question tested from Session 11, Reading 45, LOS b | 
发表于 2008-5-10 14:59
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