16-3 假设所有现金流按10%折现 Knight Corp权益价值 Knight (51x.5+1x.5)/1.10=$2364 KNight=(49x5+49x.5)/1.10=$4454 Knight2364+4454=s68.18 Day corp权益价值: iy=(40x.5+0x5)/110=$18.18 BDay=(60x5+50x5)/1.10=$50 18.18+50=$68.1816-3 假设所有现金流按10％折现 Knight Corp权益价值: SKnight = (51 x .5 + 1 x .5) / 1.10 = $23.64 BKnight = (49 x .5 + 49 x .5) / 1.10 = $44.54 VKnight = 23.64 + 44.54 = $68.18 Day Corp权益价值: SDay = (40 x .5 + 0 x .5) / 1.10 = $18.18 BDay = (60 x .5 + 50 x .5) / 1.10 = $50 VDay = 18.18 + 50 = $68.18