T_C

R_e

R_d

D/E

T_C

R_e

R_d

D/E

企业所得税率

权益资本成本

税前债务资本成本

带息债务/权益

企业所得税率

权益资本成本

税前债务资本成本

带息债务/权益

25%

9.85%

3.00%

9.1333

15%

9.85%

3.00%

15.2222

4.00%

5.850

4.00%

9.750

5.00%

3.880

5.00%

6.4667

5.50%

3.1636

5.50%

5.2727

6.00%

2.5667

6.00%

4.2778

6.50%

2.0615

6.50%

3.4359

7.00%

1.6286

7.00%

2.7143

7.50%

1.2533

7.50%

2.0889

7.88%

1.0

8.00%

1.5417

8.00%

0.9250

8.50%

1.0588

8.5%

0.6353

8.6%

1.0

9.0%

0.3778

9.0%

0.6296

9.50%

0.1474

9.50%

0.2456

9.85%

0

9.85%

0