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问题 单项选择题

A firm has $4 million in outstanding bonds that mature in four years, with a fixed rate of 7.5% (assume annual payments). The bonds trade at a price of $98 in the open market. The firm’s marginal tax rate is 35 %. Using the bond-yield plus method, what is the firm’s cost of equity risk assuming an add-on of 4%（）

A. 13.34%.

B. 11.50%.

C. 12.11%.

答案

参考答案：C

解析：

If the bonds are trading at $98, the required yield is 8.11% , and the market value of the issue is $3.92 million. To calculate this rate using a financial calculator ( and figuring the rate assuming a $100 face value for each bond), N=4, PMT=7.5 =(0.075 ×100), FV=100, PV = -98, CPT I/Y = 8.11. By adding the equity risk factor of 4% , we compute the cost of equity as 12.11%.

单项选择题

R因子是

A．决定基因

B．致育基因

C．转移基因

D．接合基因

E．耐药基因
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阅读理解

阅读理解。

     When two English people meet,  their  first  words will be "How do you do?"or  "How are you? "After the reply "

How do you do?"or "Fine,thank you,  and you?",they often talk about the weather.The reason for this is not simply

that their weather is interesting and changeable but that the English people don't like talking about personal matters

(私事)with people who are not friends.Talking about the weather can be a useful way of starting a conversation with

a stranger in public.?

1.What are the first words when English people meet?

A.Say "hello" to each other.

B.Say "goodbye" to each other.

C.Talk about the weather

D.Talk about their personal matters.

2.What's the answer to"How do you do"

A.Fine,thank you,and you?

B.How are you?

C.How do you do?

D.I'm fine,too.

3.Why do the English people often talk about the weather?

A.Because the weather is interesting.?

B.Because they don't like talking about personal matters with stranger?

C.Because the weather is changeable.?

D.A,B and C are all correct.?

4.From the article,you know that the English people talk about the weather to ______.

A.finish a conversation with a friend

B.start a conversation with a stranger

C.say"goodbye"to a stranger

D.study the weather

5.Which sentence is not correct?

A.English people like talking about the weather.

B.English people usually talk about personal matters with friends but not strangers.

C.English people like talking about personal matters with strangers in public.

D.The weather in England is interesting and changeable.
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