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- 2011-7-11
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- 2014-8-6
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Theoretically there would be no impact, which is why the curriculum suggests using the FCFF method when the capital structure is unstable.
But, if I were to issue $1000 of debt @ 5%, I would have a $50 annual coupon expense which reduces my NI by $50. But we reclaim the tax benefit of this, which comes out to $25 assuming a 50% tax rate.
NO EXCUSES |
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发表于 2011-7-13 14:29
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