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- UID
- 223422
- 帖子
- 295
- 主题
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- 注册时间
- 2011-7-11
- 最后登录
- 2014-8-4
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| Janardhanc, if I understand you right. We do not add back the whole of the interest, but only interest x (1-t) because at the time the cash flows will be discounted the cost of debt will include the tax savings, so we need to remove the tax savings linked to the interests when computing FCFF. |
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发表于 2011-7-11 19:49
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