[求助]加权资金成本是如何算出来的

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从书上看到如下一题，不甚理解，望不吝赐教：

========================================
效益 = 年销售额 × 加权资金成本 × 缩短的天数 / 360
式中：
加权资金成本 = 借款利率 ×（1 - 所得税率）× 借款 /（借款 + 权益）+ 权益报酬率 × 权益 /（借款 + 权益）
而：
权益报酬率 = 净利润 / 期初所有者权利

某项目将从送货到货款回笼平均时间30.6天降低到26.6天，如果公司2005年的预计销售额为400,000,000元，预计净利润50,751,000元，期初权益123,839,053元，公司借款利率为每年5.94%，公司的权益报酬率每年40.98%，所得税为每年12%，该项目全年的财务收益是多少？

题解：
经过计算，该公司的加权资金成本为每年26.89%，由于该项目缩短了回笼天数4天，则经核算全年共计节约1,195,111.11元。
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说明：
这不是财务方面的书上看到的，偶对财务知识也是一知半解[em04][em04]。还望达人能告知这其中的加权资金成本是如何算出来的。谢过先！[em23][em23]

[此贴子已经被作者于2008-10-16 19:49:47编辑过]

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关键词：财务知识 平均时间 所得税率 一知半解 报酬率 资金 加权

http://en.wikipedia.org/wiki/Weighted_average_cost_of_capital

The weighted average cost of capital (WACC) is the rate that a company is expected to pay to finance its assets. WACC is the minimum return that a company must earn on existing asset base to satisfy its creditors, owners, and other providers of capital.

Companies raise money from a number of sources: common equity, preferred equity, straight debt, convertible debt, exchangeable debt, warrants, options, pension liabilities, executive stock options, governmental subsidies, and so on. Different securities are expected to generate different returns. WACC is calculated taking into account the relative weights of each component of the capital structure. Calculation of WACC for a company with a complex capital structure is a laborious exercise.

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PL7715222  金币 +1  魅力 +10  经验 +10  奖励 2008-10-18 15:54:46

以下是引用Rick1227在2008-10-17 7:36:00的发言：

http://en.wikipedia.org/wiki/Weighted_average_cost_of_capital

The weighted average cost of capital (WACC) is the rate that a company is expected to pay to finance its assets. WACC is the minimum return that a company must earn on existing asset base to satisfy its creditors, owners, and other providers of capital.

Companies raise money from a number of sources: common equity, preferred equity, straight debt, convertible debt, exchangeable debt, warrants, options, pension liabilities, executive stock options, governmental subsidies, and so on. Different securities are expected to generate different returns. WACC is calculated taking into account the relative weights of each component of the capital structure. Calculation of WACC for a company with a complex capital structure is a laborious exercise.

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谢谢达人相助！

[em24][em24]

谢谢二楼的，我也明白了

用中国话说还可以。
英文 我一个不认识！~
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