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CHAPTER 10 The Cost of Capital, Nama : Safira Mayang Retnaning Dyah, NIM …
CHAPTER 10
The Cost of Capital
Cost of Debt, rd(1-T)
Cost of Retained Earnings, rs
BOND-YIELD-PLUS-RISK-PREMIUM APPROACH
DIVIDEND-YIELD-PLUS-GROWTH-RATE, OR DISCOUNTED CASH FLOW (DCF), APPROACH
CAPM APPROACH
AVERAGING THE ALTERNATIVE ESTIMATES
Cost of Preferred Stock, rp
An Overview of the Weighted Average Cost of Capital (WACC)
Basic Definitions
Capital Components : Salah satu jenis modal yang digunakan oleh perusahaan untuk mengumpulkan dana.
weighted average cost of capital (WACC) : Rata-rata tertimbang dari biaya komponen utang, saham preferen, dan ekuitas biasa
Factors That Affect the WACC
FACTORS THE FIRM CANNOT CONTROL
the general level of stock prices
tax rates
interest rates in the economy
FACTORS THE FIRM CAN CONTROL
by changing its dividend payout ratio
by changing its capital structure
by altering its
capital budgeting decision rules
Some Other Problems with Cost of Capital Estimates
Privately owned firms
Measurement problems.
Costs of capital for projects of differing risk
Depreciation-generated funds
Capital structure weights.
Adjusting the Cost of Capital for Risk
Cost of New Common Stock, re
INCREASE THE COST OF CAPITAL
retained earnings breakpoint
ADD FLOTATION COSTS TO A PROJECT’S COST
Composite, or Weighted Average, Cost of Capital, WACC
Nama : Safira Mayang Retnaning Dyah
NIM : 042111333109
Kelas : Akuntansi Manajemen (A-SP)
