I think it is mainly because capitalized interest increases the total asset. Therefore, you got more depreciation. Thus, the more deferred tax raised. May be SCHWESER just dont want to make it too complicated. So they ignored the deffered taxe and simply take the long-term debt rather than both deferred tax and Long-term debt together. Pay attention to the word "ADJUSTED" debt to equity ratio. It is not the same scenario as page 188 does.
发表于 2010-3-18 01:09
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