罗斯《公司理财》英文习题答案DOCchap012.docVIP

Chapter 12: Risk, Return, and Capital Budgeting 12.1 Cost of equity RS = 5 + 0.95 (9) = 13.55% NPV of the project = -$1.2 million + = -$20,016.52 Do not undertake the project. 12.2 a. = (-0.05 + 0.05 + 0.08 + 0.15 + 0.10) / 5 = 0.066 = (-0.12 + 0.01 + 0.06 + 0.10 + 0.05) / 5 = 0.02 b. - - ( -)2 ( -)( -) -0.116 -0.14 0.0196 0.01624 -0.016 -0.01 0.0001 0.00016 0.014 0.04 0.0016 0.00056 0.084 0.08 0.0064 0.00672 0.034 0.03 0.0009 0.00102 0.0286 0.02470 Beta of Douglas = 0.02470 / 0.0286 = 0.864 12.3 RS = 6% + 1.15 ( 10% = 17.5% RB = 6% + 0.3 ( 10% = 9%