单选题
Agora Systems Inc. has the following capital structure and cost of new capital:
A
B、
Book Value
C、
Market Value
D、
Cost of Issuing
E、
Debt
F、
$50 million
G、
$58 million
H、
5.3%
I、
Preferred stock
J、
$25 million
K、
$28 million
L、
7.2%
M、
Common stock
N、
$200 million
O、
$525 million
P、
8.0%
Q、
Total capital
R、
$275 million
S、
$611 million
T
【正确答案】
C
【答案解析】
WACC =(1-t) ×(r
d
) ×(D/A) +(r
p
) ×(P/A) +(r
ce
) ×(E/A)
= (1 -0.4) × 0.053 × (58/611) +0.072 × (28/611) +0.08 × (525/611)
=0.003 +0.0033 +0.0687 =7.50%
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