Hi arif, since you are a teacher, will you be kind enough to answer one question for me. Hi this question is regarding the required return calculation on book 2 page 168 of the CFA curriculam. 1) A comment is made that strictly speaking the inflation rate should be adjusted upward by the portfolios average tax rate. Now i have no idea how and why this process is correct and how it works.

Can someone please explain with help of example. Vol fcr 17 crack. 2) why is magazine investment not included in investable asset or even in net worth thanks.

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Switchgear protection and power systems sunil s rao pdf converter online. 1) I would not get bogged down on this, as they have used the simplified version to get the answer. They are just trying to say that you need to clear the associated tax increase (in absolute terms) due to inflation. If you just add the 3% as they did, you would fall short of the return obective by the associated taxes.

Ie.) it would be 3%/1-t Said another way, you must clear inflation (3%) AND the additional taxes. 2) Recall level 2 FRA and the treatment of minority interest. All that is recorded on the investor’s income statement would be the income received from the investment. The text notes that no income is expected, and points out his reasons for the”investment”.