Schweser Mock Vol 2 Exam 2 PM Q101
Regarding Q101 Schweser Vol. 2 Exam 2 PM.
I thought this was a straight forward VC question. I saw that there was a “possible 15% rate of failure for the company” and thus adjusted the DR accordingly to reflect this (ie 1+.4/1-.15 = 64.7% DR).
However the answer did not make this adjustment and used just 40%. Does anyone know why this was the case? What should we do in the exam?
Answer was given as:
post-money valuation = V/(1 + r)t
V = $300 million; r = 40%; t = 5 years
post-money valuation = 300 millions/(1 + 0.4)5 = 55.78 million |
发表于 2013-4-20 00:45
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