答案和详解如下： 1．Legend Software Corp. has a current book value per share of $6.00 and expected residual income over the next three years of $0.55, $0.72, and $3.08, respectively. Given a required rate of return on equity of 12 percent, what is the value of the stock using the residual income model? A) $3.26. B) $10.35. C) $12.26. D) $9.26. The correct answer was D) V0 = 6.00 + [0.55/1.12] + [0.72/(1.12)2] + [3.08/(1.12)3] = $9.26 2．Crystal Offerings has a current book value per share of $9.00 and expected residual income over the next three years of $0.55, $0.72, and $3.08, respectively. Given a required rate of return on equity of 12 percent, what is the value of the stock using the residual income model? A) $3.26. B) $13.35. C) $9.26. D) $12.26. The correct answer was D) V0 = 9.00 + [0.55/1.12] + [0.72/(1.12)2] + [3.08/(1.12)3] = $12.26 3．Crystal Offerings has a current book value per share of $6.00 and expected residual income over the next three years of $0.45, $0.65, and $4.12, respectively. Given a required rate of return on equity of 12 percent, what is the value of the stock using the residual income model? A) $3.26. B) $11.22. C) $9.85. D) $12.26. The correct answer was C) V0 = 6.00 + [0.45/1.12] + [0.65/(1.12)2] + [4.12/(1.12)3] = $9.85 | 
发表于 2008-5-21 10:18
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