图书出版占用的资金多，资本回收难，市场寿命短、风险大。
The occupation of funds for book publishing is large, while the capital recovery is difficult; the market life circle is short and with big market risk.
在资金回收量的计算中，企业年金现值的逆操作，资本回收系数是年金现值系数的倒数。
In the calculation of the amount of capital recovery that the inverse operation of annuity present value, capital recovery factor is the reciprocal of annuity present value coefficient.
这儿就要提到利率了：受益人可以得到所有的税后增值收益，也称最低预期资本回收率，这个收益率与现行利率相挂钩。
Here's where low interest rates come in: the beneficiary gets all the appreciation minus a tax, known as the hurdle rate, which is tied to current interest rates.
现金流量可以分为资本成本、资本回收额与剩余收益三部分，因此当折现时不同的现金流量应与不同的相关折现率相匹配。
Cash flow can be divided into three parts: capital cost, capital withdrawal and residual income, so different cash flow should be matched with different relevant discounted rate while discounted.
作为对持续下跌的市场的额外预防措施，Narayanan建议建立“安全系数”：一个超过最低预期资本回收率3% - 5%的溢价。
As an extra precaution against an ongoing down market, Narayanan suggests building in a "margin of safety" : a 3 to 5 percent premium over the target hurdle rate.
作为对持续下跌的市场的额外预防措施，Narayanan建议建立“安全系数”：一个超过最低预期资本回收率3% - 5%的溢价。
As an extra precaution against an ongoing down market, Narayanan suggests building in a "margin of safety" : a 3 to 5 percent premium over the target hurdle rate.
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