Ok…I just did Exam 1pm out of Volume 2 (i.e. book 7). There is an item set questions # 85-90 that deals with NPV, EAA, and so forth. The item set does not include a tax rate (kinda makes things difficult to calculate the depreciation effect). Went through the test (BTW got a 76.7%…so feeling a bit better)…and the Schweser online…the tax rate is 40% (like we were supposed to know that)…so just to save you a bit of aggravation going through…thought this would help… As an FYI again…the average scores on Schweser test that I have seen are Book 1…1am 63 Book 1…1pm 62 Book 1…2am 61 Book 2…1 am 60 Book 2…1 pm 60
Yeah, I noticed that too. I tried to derive the actual tax rate from the before/after tax income given in that table and got 30%, perhaps wrongly… Ended up with 73.7% on that test. By the way, the average scores on Scheweser have been increasing with time. For example, Book 7 1 am used to be 60 when only 131 tests were taken. It is now 61% with 204 tests taken. That means that the most recent 73 tests had an average of about 63%. Hmm… You’d think I should be applying my time to something other than calculating incremental test results…