【FRM每日一题】一级：风险管理基础
备考FRM一级 | 2015-09-10
A company has $20 million in debt and $30 million in equity. A recent international project had a market risk premium of 5%, a country risk premium of 3%, and a beta of 1.5 (based on historical information). STT”s current cost of borrowing is 12%, with a default spread of 7% given a relevant risk-free rate of 4%. What is A company’s weighted average cost of capital given their marginal corporate tax rate of 40%?
A.12.48%
B.10.72%
C.9.78%
D.7.98%
Answer: A
Explanation: The cost of equity for STT is equal to:
4% + 1.5×(5% + 3%) = 16%
The cost of debt for STT is equal to:
12%×(1 - 40%) = 7.2%
The cost of capital is equal to:
相关知识点：WACC
Where:
cost of equity = risk-free rate + beta×equity (market) risk premium
cost of borrowing = risk-free rate + default spread
cost of debt = cost of borrowing×(1- marginal tax rate)>>>FRM五月真题
>>>FRM不延考***秘诀<<<
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