问题
单项选择题
Which of the following choices best describes the role of taxes on the after-tax cost of capital in the U. S. from the different capital sourcesCommon equity Preferred equity Debt（）①A. No effectDecrease Decrease ②B. DecreaseDecrease No effect ③C. No effectNo effect Decrease
A. ①
B. ②
C. ③
答案
参考答案：C
解析：
In the U. S. , interest paid on corporate debt is tax deductible, so the after-tax cost of debt capital is less than the before-tax cost of debt capital. Dividend payments are not tax deductible, so taxes do not decrease the cost of common or preferred equity.
