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! S: b8 |% C6 s7 b: `. `" K$ I' GQuestion 77
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2 d4 l% D$ e+ p4 zWhen evaluating the qualifications of a board member, which of the following is least likely to be considered a positive factor? The board member:* d( b% `) W. X" y; P& a) h
A) has board membership in excess of 10 years.
" Q8 ^% n6 x1 k3 _B) regularly attends meetings.
, w; M; v1 v. f7 `( b5 oC) has made public statements regarding his ethical positions.4 R( `, q3 F% d5 P& T
D) has experience on other boards." N% U8 s3 g; {4 P: S
6 p' T" B3 @- N, D# t答案和详解如下:
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; w! I E0 K' }/ F/ X# qQuestion 78
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Which of the following is most accurate regarding the component costs and component weights in a firm’s weighted average cost of capital (WACC)?+ b8 R& \ L i, [
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A) The dividend exclusion for corporate investments in preferred stock reduces the after-tax cost of preferred stock.
0 x! E4 h" W d/ x" a! ~B) The weights in the WACC should be based on the book values of the individual capital components.' n/ ?( W9 Y* c
C) The appropriate pre-tax cost of a firm’s new debt is the average coupon rate on the firm’s existing debt.9 `/ S0 {1 G0 d: e7 K
D) Taxes reduce the cost of debt for firms in countries in which interest payments are tax deductible.
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- i! t4 A+ R* D9 `+ F, ?" ]答案和详解如下:( H! q& y( B9 M% n2 e
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