问题
单项选择题
An analyst does research about weighted average cost of capital and gathers the following information about a company:
| Capital Source | Market Value (millions) | Before-tax Cost of Capital |
| Bonds | $150 | 5% |
| Preferred stock | $50 | 6% |
| Common stock | $300 | 10% |
A. 7.0%
B. 7.6%
C. 8.1%
答案
参考答案：B
解析：
先算出各种资金来源的比例：
| Capital Source | Weighted |
| Bonds | 150/(150+50+300)=0.3 |
| Preferred stock | 50/(100+200+300)=0.1 |
| Common stock | 300/(100+200+300)=0.6 |
WACC=Wd×Kd(1-t)+Wps×Kps+Wce×Kce=0.3×5%×(1-35%)+0.1×6%+0.6 ×10%=7.575%。