这个回报率通常指贴现因子、最低预期资本收益率或者资本的机会成本。
This rate of return is often referred to asthe discount rate, hurdle rate, or opportunity cost of capital.
因此本章的第一个任务就是定义和解释净现值、回报率和资本的机会成本。
So this chapter’s first task is to defineand explain net present value, rate of return, and opportunity cost of capital.
那么12%就是合适的资本机会成本。
Then 12 percent becomes the appropriate opportunity costof capital.
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