Tài liệu Tài chính doanh nghiệp ( Bài tập) Chapter 7 doc
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 10 doc
...
σ
2
P
= (W
F
)
2
(
F
)
2
+ (W
G
)
2
(
G
)
2
+ (2 )(W
F
)(W
G
)(
F
)(
G
)[Correlation(R
F
, R
G
)]
= (0 .30)
2
(0 .09)
2
+ (0 .70 )
2
(0 .25)
2
+ (2 )(0 .30 )(0 .70 )(0 .09 )(0 .25 )(0 .2)
= 0.033244 ... σ
2
P
= (W
A
)
2
(
A
)
2
+ (W
B
) (
B
2
B
B
)
2
+ (2 )(W
A
)(W
B
)(
B
A
)(
B
B
)[Correlation(R
A
, R
B
)]
B
= (...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 12 ppt
... Cov (R
S
, R
M
) = Σ [(R
S
-
R
S
) × (R
M
-
R
M
) × Prob]
= (0 .03 – 0.1 37) (0 .05 – 0.135) (0 .1) + (0 .08 – 0.1 37) (0 .1 – 0.135)
(0 .3) + (0 .2 – 0.1 37) (0 .15 – 0.135) (0 .4) + (0 .15 – 0.1 37) (0 .2 ...
[S / (S+B)] = [S / (S + 0 .75 × S)]
= [S / (1 .75 × S)]
= 1 / 1 .75
= 0. 571 4
[B / (S+B] = [(0 .75 × S) / (S + 0 .75 × S)]
= [(...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 7 doc
... PV(C
0
) = -$120,000
PV(C
1
) = $25,629 / (1 .1 97) = $21,411
PV(C
2
) = $26,355 / (1 .1 97)
2
= $18,394
PV(C
3
) = $ 27, 098 / (1 .1 97)
3
= $15,800
PV(C
4
) = $ 27, 859 / (1 .1 97)
4
= $13, 570 ... $13, 570
PV(C
5
) = $28,638 / (1 .1 97)
5
= $11,654
PV(C
6
) = $29,432 / (1 .1 97)
6
= $10,006
PV(C
7
) = $30,242 / (1 .1 97)
7
= $8,589
NPV = PV(C
0...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 9 pdf
...
return [(R -
R
)
2
], divided by six.
R
SS
R
SS
-
R
SS
(R
SS
-
R
SS
)
2
0.3988 0.1898 0.0360
0.1388 -0. 070 2 0.0049
0.2801 0. 071 1 0.0051
0.39 67 0.1 877 0.0352
-0.06 67 -0. 275 7 0. 076 0 ...
Five-year holding-period return = (1 +R
1
) × (1 +R
2
) × (1 +R
3
) × (1 +R
4
) × (1 +R
5
) – 1
= (1 + -0.0491) × (1 + 0.2141) × (1 + 0.2251) ×
(1 + 0....
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 5 (V1) pptx
... reserved.
= ($ 5.99) / (1 .14) + ($ 6.64) / (1 .14)
2
+ ($ 7. 17) / (1 .14)
3
+ ($ 7. 53) / (1 .14)
4
+
[($ 7. 91) / (0 .14 – 0.05)] / (1 .14)
4
= $71 .70
A share of Webster stock is $71 .70 .
5.24 ...
PV(Dividends) = (1 – T) Div
1
/ (1 +r) + (1 – T) Div
2
/ (1 +r)
2
= (0 .72 ) $2 / (1 .15) + (0 .72 ) $4 / (1 .1...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 6 pptx
...
d. NPV(Deepwater Fishing) = -$600,000 + $ 270 ,000 / (1 .15) + $350,000 / (1 .15)
2
+
$300,000 / (1 .15)
3
= $96,6 87. 76
The NPV of the deepwater fishing project is $96,6 87. 76.
NPV(Submarine ... the initial investment.
PI(A) = [C
1
/ (1 +r) + C
2
/ (1 +r)
2
+ C
3
/ (1 +r)
3
] / (Initial Investment)
= [$300 / (1 .1) + $70 0 / (1 .1)
2
+ $600 / (...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 4 pdf
... $650,000 / [(1 .09) (1 .044)] = $ 571 ,1 97. 58
PV(C
3
) = $800,000 / [(1 .09)
2
(1 .044)] = $644,965.51
PV(C
4
) = $1,000,000 / [(1 .09)
3
(1 .044)] = $73 9,639.35
PV(C
5
) = $1,000,000 / [(1 .09)
4
(1 .044)] ... $1,000 / (1 .1)
5
= $620.92
PV(C
6
) = $1,000 / (1 .1)
6
= $564. 47
PV(C
7
) = $1,250 / (1 .1)
7
= $641.45
PV(C
8
) = $1, 375 / (1 .1...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 5 pptx
...
price of the bond.
P = C
1
/ (1 +y) + (C
2
+F) / (1 +y)
2
$914. 87 = $60 / (1 +y) + ($ 60 + $1,000) / (1 +y)
2
y = .10 97 = 10. 97%
The yield to maturity is 10. 97% .
5A.2 The present value ... spot rate.
P = C
1
/ (1 +r
1
) + (C
2
+F) / (1 +r
2
)
2
= $60 / (1 .1) + ($ 60 + $1,000) / (1 .11)
2
= $54.55 + $860.32
= $914. 87
The pri...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 15 pdf
... ratio is 0 .75 ,
r
S
= r
0
+ (B/S
0 B C
= 0.20 + (0 .75 )(0 .20 – 0.10 )(1 – 0.35)
If William
S n e 75
Williamson’s debt-to-v lue ratio = (0 .75 * S) / { (0 .7
The ... - $2,000) / $80,000].
ity capital (r
S
), set up the following equation:
+S) }(1 – T
C
) r
B
+ {S / (B+S)}r
S
0.15 = (0 .71 43 )(1 – 0.35 )(0 .10) + (0 .28...
Tài liệu Tài chính doanh nghiệp ( Bài tập)_ Chapter 16 ppt
... rate for investors
in Group O is 8. 57% {= 0.08 57 * (1 - 0)}. Since the after-personal tax interest rate (8 . 57% ) is
greater than the required return on equity (6 %), Group O will buy debt.
Group ... – T
B
C
) / r
S
Equity Value = ($ 150 million – {0.08 57 * $70 0 million} )(1 – 0.30)) / 0.06
= $1,050 million
The debt-equity ratio in the economy is 2/3 (= $70 0...