问题
单项选择题
An analyst is estimating the cost of capital for her firm. She has estimated the before-tax costs of the current sources of capital to be 8 percent of debt and 9 percent for equity, If the firm’s marginal tax rate is 40 percent, the costs of debt and equity she could use in her calculation are closest to:()
A. 4.8% for debt and 5.4% for equity.
B. 4.8% for debt and 9.0% for equity.
C. 8.0% for debt and 5.4% for equity.
答案
参考答案：B
解析：
[分析]： 应当对债务成本进行调整以反映发行债券在税金方面的优势，从而厂商的债务成本为8%×(1-40%)=4.8%。由于股权融资不具备税金优势，从而无须对权益成本进行相应调整。因此，本题的正确选项为B。 [考点] 加权平均资金成本与税金的影响