单项选择题两个投资项目(项目A和项目B)的相关数据如下表所示，且两项目的必要回报率均为14%。试根据这些条件解答问题。
项目A和项目B的相关数据
|
| |
项目A |
项目B |
初始成本
年限
现金流 |
2800万美元
2
1800万美元/年 |
5500万美元
3
2500万美元/年 |
|
|
Deconal Corporation has assets on its balance sheet of $200 million
that are financed with 60% equity and 40% debt. The executive management team at
Deconal is considering a major expansion that would require raising additional
capital. David, the CFO of Deconal, has put together the following schedule for
the costs of equity and debt:
| amount of new equity(in millions) |
cost of equity |
amount of new debt(in millions) |
after-tax cost of debt |
|
| 0～99100～179180～299 |
7.2%7.5%8.0% |
0～4950～99100～199 |
3.4%4.0%4. 6% |
|
|
In a presentation to Deconal’s Board of
Directors, David makes the following statements: Statement A:
If we maintain our target capital structure of 60% equity and 40% debt, the
break point at which our cost of equity will increase to 7.5% is $280 million in
new capital. Statement B: If we want to finance total assets
of $600 million, our marginal cost of capital will increase to 6.64%.
Are David’s statements correct or incorrect
Statement A
Statement B ① correct
incorrect ② incorrect
correct
③ incorrect
incorrect
A. ①
B. ②
C. ③
