備考CFA考試是需要考生掌握一定的知識的，考生備考CFA考試是不是在掌握了WACC這個知識呢？在考試中是有這樣的計算題的，考生是不是能做對呢？
A company has the following data associated with it:
A target capital structure of 10% preferred stock, 50% common equity and 40% debt.
Outstanding 20-year annual pay 6% coupon bonds selling for $894.
Common stock selling for $45 per share that is expected to grow at 8% and expected to pay a $2 dividend one year from?today.
Their 5%, $100 par preferred stock currently sells for $90.
The company's tax rate is 40%.
What is the weighted average cost of capital (WACC)
A）8.5%.
B）10.3%.
C）9.2%.
解析：
這次說的是?dividend is expected to pay?one year from?today.
After-tax cost of debt:
N = 20; FV = 1,000; PMT = 60; PV = -894; CPT I/Y = 7%k = (7%)(1 ? 0.4) = 4.2%
Cost of preferred stock:
k = D / P = 5 / 90 = 5.56%
Cost of common equity:
k = (D / P ) + g
k = 2 / 45 + 0.08 = 0.1244 = 12.44%
WACC = (0.4)(4.2) + (0.1)(5.6) + (0.5)(12.4) = 8.5%
【答案】選A
這就是CFA考試題型，考生在備考中需要相關(guān)的考試題可以在線咨詢CFA老師，這邊有CFA考試題庫可以練習(xí)，文字+視頻解析，讓解題變得更加清晰！
