题目详情:

[简答题]
计算题：
甲公司目前的资本结构为：长期债券1000万元，普通股1500万元，留存收益1500万元。其他有关信息如下：
(1)公司债券面值为1000元/张，票面利率为5.25%，期限为10年，每年付息一次，到期还本，发行价格为1010元/张;
(2)股票与股票指数收益率的相关系数为0.5，股票指数的标准差为3.0，该股票收益率的标准差为3.9;
(3)国库券利率为5%，股票市场的风险附加率为8%;
(4)公司所得税为25%;
(5)由于股东比债券人承担更大的风险所要求的风险溢价为5%。
要求：
(1)计算债券的税后成本(提示：税前成本介于5%-6%之间);
(2)按照资本资产定价模型计算普通股成本;
(3)按照债券收益加风险溢价法计算留存收益成本;
(4)计算其加权平均资本成本。

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[不定项选择题]共用题干 Mt. Desert Island

The coast of the State of Maine is one of the most irregular in the world.A straight line running from the
southernmost coastal city to the northernmost coastal city would measure about 225 miles.If you followed the
coastline between these points,you would travel more than ten times as far. This irregularity is the result of
what is called a drowned coastline._________(46)At that time,the whole area that is now Maine was part
of a mountain range that towered above the sea. As the glacier（冰川）descended , however , it expended
enormous force on those mountains,and they sank into the sea.
As the mountains sank,ocean water charged over the lowest parts of the remaining land,forming a series
of twisting inlets and lagoons（咸水湖）.The highest parts of the former mountain range , nearest the shore,
remained as islands.________(47)Maine fossils found here were 225 feet above sea level,indicating the
level of the shoreline prior to the glacier.
The 2,500-mile-long rocky coastline of Maine keeps watch over nearly two thousand islands. Many of
these islands are tiny and uninhabited,but many are home to thriving communities.Mt. Desert Island is one
of the largest,most beautiful of the Maine coast islands.Measuring 16 miles by 12 miles,Mt. Desert was es-
sentially formed as two distinct islands._______(48)
For years,Mt. Desert Island,particularly its major settlement,Bar Harbor,afforded summer homes for the
wealthy.Recently though,Bar Harbor has become a rapidly growing arts community as well.But,the best part
of the island is the unspoiled forest land known as Acadia National Park.Because the island sits on the
boundary line between the temperate（温带）and sub-Arctic zones,the island supports the plants and ani-
mals of both zones as well as beach , inland , and alpine（高山的）plants. _________( 49 ) The establish-
ment of Acadia National Park in 1916 means that this natural reserve will be perpetually available to all
people,not just the wealthy.Visitors to Acadia may receive nature instruction from the park naturalists as well
as enjoy camping,cycling,and boating.Or they may choose to spend time at the archeological museum,
learning about the Stone Age inhabitants of the island.
The best view on Mt.Desert Island is from the top of Cadillac Mountain._________(50)From the
summit,you can gaze back toward the mainland or out over the Atlantic Ocean and contemplate the beauty
created by a retreating glacier. _________（47）
A.This mountain rises 1,532 feet,making it the highest mountain on the Atlantic seaboard.
B.It is split almost in half by Somes Sound,a deep and narrow stretch of water,seven miles long.
C.It also lies in a major bird migration lane and is a resting spot for many birds.
D.The term comes from the activity of the ice age.
E.Mt.Desert Island is one of the most famous of all the islands left behind by the glacier.
F.The wealthy residents of Mt.Desert Island selfishly kept it to themselves.