财务管理ch07 资妙本成本.pptVIP

Chapter 07 Required Returns and the Cost of Capital 要求报酬与资本成本 Overall Cost of Capital of the Firm Cost of Capital is the required rate of return on the various types of financing. The overall cost of capital is a weighted average of the individual required rates of return (costs). Market Value of Long-Term Financing Type of Financing Mkt Val Weight Long-Term Debt $ 35M 35% Preferred Stock $ 15M 15% Common Stock Equity $ 50M 50% $ 100M 100% Cost of Debt The cost of debt is the required return on our company’s debt We usually focus on the cost of long-term