ACCA考试科目 P4 Past paper June 2011 Q4 ？

Levi · 发表于 2012-7-24 09:19:29

ACCA考试科目 P4 Past paper June 2011 Q4 ？

Hi ,
Does someone understand how to determine Pe(exercise price)and Pa (current price) for BSOP

model when it is about “real”option like in Q4 past paper June 2011? I can’t understand

why they take 35 asexercise price and 38,75 as current price.
Thank you

acca_renrenwang · 发表于 2012-7-24 11:22:40

Hi
In valuing investments (or real options) Pe is the the estimated cost of the investment, in this case $35m and Pa is the present value of the net receipts (i.e positive cash flows) which is the $38.75.

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