题目
The Gearing Company has an after-tax cost of debt capital of 4 percent, a cost of preferred stock of 8 percent, a cost of equity capital of 10 percent, and a weighted average cost of capital of 7 percent. Gearing intends to maintain its current capital structure as it raises additional capital. In making its capital budgeting decisions for the average-risk project, the relevant cost of capital is:
选项
A.4 percent.
B.7 percent.
C.8 percent.
答案
B
解析
Answer: B The weighted average cost of capital, using weights derived from the current capital structure, is the best estimate of the cost of capital for the average-risk project of a company. 这道题目问的是G公司的税后债务资本成本为4%，优先股成本为8%，权益资本成本为10%，加权平均资本成本为7%。G公司打算在筹集额外资本的同时保持现有的资本结构。在为平均风险项目作出资本预算决策时，相关的资本成本为: 加权平均资本成本是对公司平均风险项目的资本成本的最佳估计，并且该公司使用的是当前资本结构，所以平均风险的项目的资本成本就是公司的加权平均资本成本为7%。因此B选项正确