Suppose a firm estimated the WACC of its own at one time to be 10%, should this WACC be used to evaluate all projects of the firm?

假设一个公司的加权平均资本成本估计自己在同一时间是10%，这应该为被用来评估所有项目的公司呢？

Based on the assumption of no arbitrage, an accurate WACC formula is derived.

基于无套利假设, 给出了WACC的精确公式.

The PV of their expected future free cash flows, discounted at the WACC, is the value of operations.

在用资产产生的预期自由现金流量，以加权平均资金成本为折现系数进行折现后的现值称为营业价值。

Weighted Average Cost of Capital (WACC): The firm's overall cost of capital considering all of the components of the capital structure.

加权平均资金成本：一家公司算上所有资本结构以后的总资金成本。