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"Corporate Finance": Tax adjustment
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Questions 1:
The cost of which source of capital most likely requires adjustment for taxes in the calculation of a firm’s weighted average cost of capital?
A、 Common stock
B 、Preferred stock
C、 Bonds
Questions 2:
The optimal capital budget for a firm is best described as occurring when thecompany’s marginal cost of capital is:
A 、equal to the investment opportunity schedule.
B、 less than the investment opportunity schedule.
C、 greater than the investment opportunity schedule.
View answer resolution
【Answer to question 1】C
【analysis】
C is correct. Bonds are a form of debt that must be adjusted for taxes when calculating the weighted average cost of capital.
A is incorrect because adjustment for taxes is applicable for the cost of debt and not in the cost of equity.
B is incorrect because adjustment for taxes is applicable for the cost of debt and not in the cost of equity.
【Answer to question 2】A
【analysis】
A is correct. The optimal capital budget occurs when the marginal cost of capital (MCC) intersects with (is equal to) the investment opportunity schedule (IOS).
B is incorrect. The optimal capital budget occurs when the marginal cost of capital (MCC) intersects with (is equal to) the investment opportunity schedule (IOS).
C is incorrect. The optimal capital budget occurs when the marginal cost of capital (MCC) intersects with (is equal to) the investment opportunity schedule (IOS).
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