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- UID
- 223450
- 帖子
- 359
- 主题
- 10
- 注册时间
- 2011-7-11
- 最后登录
- 2014-8-7
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Vu is value of the firm (unlevered) so without depreciation tax shield
Vl is levered or with the tax shield
I havent looked at the problem but if they assume the MM propositions without taxes then you would not use the after tax number to get value of the firm. |
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发表于 2013-4-12 22:30
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