Formler

Question 1

r0 = rue

Answer 1

E(EBIT) / Vu

Question 2

Pex

Answer 2

Aksjepris - DIV

Question 3

TBK Aksjer (påvirkning aksjonærskatt)

Answer 3

(DIV*Td) - (Pcum-Pex) Tg

Question 4

rle

Answer 4

r0 + (r0 - rd)(1-Tc) * D/E

Question 5

Vu

Answer 5

EBIT * (1-Tc) / r0

Question 6

El

Answer 6

(EBIT - rd*D) ( 1-Tc) / rle

Question 7

Td*

Answer 7

(Td - Tg) / (1-Tg),

Question 8

GL (eff. Skattefordel evig gjeld)

Answer 8

I * [ (1-ti) - (1-Tc)(1-Te)

Question 9

TBK aksjer, påvirkning aksjonerskatt

Answer 9

(DIV * Td) - (Pcum-Pex)*Tg

Question 10

Rle (med skatt)

Answer 10

r0 + (r0 - rd) (1-Tc) D / E

Question 11

NV (renteskattfordel)

Answer 11

T* x D

Question 12

GL (skattefordel gjeld, MM)

Answer 12

D x T*

Question 13

GL (skattefordel gjeld)

Answer 13

Rd * D * T*

Question 14

VL (alt)

Answer 14

Vu + Tc*D

Question 15

Rwacc (skatt)

Answer 15

Rd*(1 - Tc) (D / D + E) + rle (E / D + E)

Question 16

Akjsepris etter TBK

Answer 16

EBIT (1 - Tc) / Antall org aksjer - tbk

Question 17

Reduksjon selskapsskatt

Answer 17

D*rd (Tc)

Question 18

Renteskattfordel

Answer 18

RdDTc

Question 19

E(EPS), foreslått kapitalstruktur

Answer 19

(EBIT - rd*D) / #aksjer

Question 20

DIV ( m/ skatt )

Answer 20

Pcum - Pex = DIV(1 - Td) / (1 - Tg)

Question 21

VL

Answer 21

EBIT * (1- Tc) / Rwacc

Question 22

Reduksjon aksjonærskatt

Answer 22

(D * rd) (1 - Tc) (Te)

Question 23

Pcum

Answer 23

EK / #aksjer

Question 24

NV (skattefordel, Tc)

Answer 24

Tc * D

Question 25

Økning betalbar skatt (långivere)

Answer 25

(D * rd) (Ti)

Question 26

EL (uten avkastning)

Answer 26

VL - D

Question 27

Eu

Answer 27

E(EBIT) / r0