C********5
发帖数: 1065 | 1 Question CPA - 03934
我实在是不知道Preferred shares 8.4%,
Common equity (retained earnings) 7.0% ×10%=0.70%，
New common shares 7.6%×40%=3.04%，
这几个具体是怎么来的？大家帮忙解答一下吧，谢谢！
下面是答案的解释：
This question pertains to the manner in which changes in the required amount
of capital will impact the weighted average cost of capital governed by the
target capital structure. The rates are given, and you must derive the
weights.
The company needs a total of $1,000,000. The total Retained Earnings is $
100,000, which will only represent 10% of the total amount needed. In J92-1
.01, we computed the cost of new common share issues at 7.6%, and we know
that we can issue unlimited amounts of each security. Based on these
assumptions, we know that the target capital structure will remain unchanged
but that the components of common equity will be priced differently because
Retained Earnings only equals $100/$1,000 (or 10%). If the target
capital structure calls for 50% common stock and only 10% is available from
retained earnings, then 40% must come from the issuance of new common shares
. The weighted average is computed as follows:
Target
Type of financing Cost Structure Extension
Long-term debt 4.8% ×30%=1.44%
Preferred shares 8.4% × 20%=1.68%
Common equity (retained earnings)7.0%×10%=0.70%
New common shares 7.6%×40%=3.04%
Total 100% 6.78%
Choices "b", "c", and "d" are incorrect, per the above calculcation. | s********9
发帖数: 142 | 2 我实在是不知道Preferred shares 8.4%,
Common equity (retained earnings) 7.0% ×10%=0.70%，
New common shares 7.6%×40%=3.04%，
这几个具体是怎么来的？大家帮忙解答一下吧，谢谢！ | s*******0
发帖数: 221 | 3 R/E, 的cost of equity，7% 是7/100 来的吗？ 按照说的current commonstock的 par
value和dividend？ 这道题前面的那道里面说7% as calculated in a prior
question,可是我没找到前面有啥问题计算了这个7% a | s******l
发帖数: 148 | 4
earning left and you use this one.
按照说的current commonstock的 par
【在 s*******0 的大作中提到】
: R/E, 的cost of equity，7% 是7/100 来的吗？ 按照说的current commonstock的 par
: value和dividend？ 这道题前面的那道里面说7% as calculated in a prior
: question,可是我没找到前面有啥问题计算了这个7% a
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