问题
单项选择题
An equity investment of $750000 in a private company will pay $19000000 at the end of five years if the company is successful. The following is estimates of the probability of failure for each year, given that it survives to the beginning of each year:
| Year | Probability of Failure |
| 1 | 0.40 |
| 2 | 0.35 |
| 3 | 0.30 |
| 4 | 0.25 |
| 5 | 0.20 |
A. $377873
B. $500723
C. $623573
答案
参考答案：B
解析：
成功的可能性：(1-0.40)×(1-0.35)×(1-0.30)×(1-0.25)×(1-0.20)=0.1638，由此得股权投资的净现值：
0.1638×[$190000001(1+20%)5-$750000]+(1-0.1638)×(-$750000)=$500723。