9.1
9.1
.
9.1 , %
12,0%, 20%. 23%.
(WAAC) :
WAAC = k1×d1×(1 ) + k2×d2,
k1, k2 ;
d1,d2 ;
(0,23).
WAAC1- = 0,70×0,20×(1,0 0,23) + 0,30×0,12 = 0,144 (14,4%).
2- = 14,0%; 3- = 13,7%; 4- = 13,4%; 5- = 13,0%; 6- =12,7%.
: 6-.
9.2
(WACC) , :
,% | , % | |
80,0 | 12,0 | |
20,0 | 6,5 |
(WACC), 60%? 23%.
WACC = 12,0%×80% /100% + 6,5%×20% / 100%×(1,0 0,23) = 9,6% + +1,0% = 10,6%.
WACC , 60%, 40% (100% 60%)=12%×60% /100% +6,5%×40% /100% ×(1,0 0,23) = 7,2% + 2,0% = 9,2%.
: 10,6% 9,2%.
9.3
, :
- 450 . ;
- 1050 . ;
- 85 . ;
- 15% ;
- 20%;
85000 / 0,20 = 425 . .
: = 425 . .
9.4
, . , , ᒺ . ᒺ :
ᒺ | ||
1. | - | 120% |
2. , . | ||
3. , . | ||
4. , % | ||
5. | 2,7 | 2,85 |
6. , . | ||
7. Cash-flow,. | ||
8. , . |
|
|
-:
- = 0,75;
- Cash-flow = 2,72;
- = 3;
- = 0,214.
:
- : 112,5% (0,75×150%) 3375 . (112,5% 3000 . );
- Cash-flow: 3808 . (2,72×1400);
- : 3600 . (3×1200);
- : 3210 . (0,214×15000).
ʳ : (3375 + 3808 + 3600 + 3210) / 4 = 3498 . .
: = 3498 . .
1. ᒺ ,
2. ᒺ .
3. .
4. .
5. .
6. .
7. .
8. ,
9. .
IJ 10