formula of risk-adjusted discount rate:

1. adjusted net present value = ∑ [expected cash flow /(1+ risk-adjusted discount rate) t];

2. The rate of return required by investors = risk-free rate of return +B * (market average rate of return-risk-free rate of return);

3. The required rate of return of the project = risk-free rate of return+B * of the project (market average rate of return-risk-free rate of return).

the discount rate, also known as the expected return on investment, is an important parameter to determine the evaluation value based on the income method. Evaluation By calculating the weighted average capital cost of xxx company, the expected return on investment of trademark users is estimated, and the discount rate of intangible assets is calculated on this basis.

1. First, select a comparative company among listed companies, and then estimate the expected return on investment of the comparative company;

2. Estimate the expected return on investment of trademark users according to the expected return of comparison companies;

3. calculate the discount rate of trademark intangible assets according to the unique risk of intangible assets. The formula is: R=WACC+α.