问题 问答题 简答题

甲企业计划利用一笔长期资金投资购买股票。现有M公司股票、N公司股票、1公司股票可供选择,甲企业只准备投资一家公司股票。已知M公司股票现行市价为每股3.5元,上年每股股利为0.15元,预计以后每年以6%的增长率增长。N公司股票现行市价为每股7元,上年每股股利为0.6元,股利分配政策将一贯坚持固定股利政策。1公司股票现行市价为4元,上年每股股利0.2元。预计该公司未来三年股利第1年增长14%,第2年增长14%,第3年增长5%。第4年及以后将保持每年2%的固定增长率水平。甲企业所要求的投资必要报酬率为10%。

利用股票估值模型,分别计算M、N、L公司股票价值。

答案

参考答案:

1公司预期第1年的股利=0.2×(1+14%)=0.23(元)

1公司预期第2年的股利=0.23×(1+14%)=0.26(元)

1公司预期第3年的股利=0.26×(1+5%)=0.27(元)

多项选择题
阅读理解
Here are some important events in August in Britain. Read them and answer the following questions.
Great British Beer Festival
Tue. 3 Aug — Sat. 7 Aug
London
Drink, music and other entertainments. This is held at Earls Court.
http://www.gbbf.orggwww.eif.co.uk
Edinburgh (爱丁堡) International Festival
Fri. 13 Aug. —Sun. 5 Sep.
Edinburgh
A festival of classical music, operas and dances in Edinburgh
http://www.eif.co.uk
Bristol International Balloon Festival (布里斯托儿国际气球节)
Thur. 12 Aug.-Sun. 15 Aug.
Europe's largest hot-air balloon festival, with over 100 balloons taking part
http://www.bristolfiesta.co.uk
Summer Bank Holiday
Mon 30 Aug.
A public holiday in England, Wales and Northern Ireland People take trips or short vacations during the holiday.
For more: Travel/Transport
小题1:Where is the Great British Beer Festival held?
A.In Bristol.B.In Wales.C.In Edinburgh.D.At Earls Court.
小题2:How long does Edinburgh (爱丁堡) International Festival last?
A.13 days.B.23 days.C.33 days.D.43 days.
小题3:If you are in the UK at the beginning of August, you can probably take part  in_______.
A.the Summer Bank Holiday
B.the Great British Beer Festival
C.the Edinburgh International Festival
D.the Bristol International Balloon Festival
小题4:What is the Edinburgh International Festival about
A.Food. B.Clothes. C.Art. D.Vacations.
小题5:If you want to know more about Bristol International Balloon Festival, you can click ______.
A.travel / transportB.http://www.eif.co.uk
C.http://www.gbbf.orgD.http://www.bristolfiesta.co.uk