{"id":29538,"date":"2022-12-31T18:57:24","date_gmt":"2022-12-31T18:57:24","guid":{"rendered":"https:\/\/analystprep.com\/study-notes\/?p=29538"},"modified":"2026-06-19T19:57:28","modified_gmt":"2026-06-19T19:57:28","slug":"capital-structure-and-cost-of-capital-relative-to-peers","status":"publish","type":"post","link":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/","title":{"rendered":"Capital Structure and Cost of Capital Relative to Peers"},"content":{"rendered":"<p><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"QAPage\",\n  \"mainEntity\": {\n    \"@type\": \"Question\",\n    \"name\": \"Cost of equity using the expanded CAPM\",\n    \"text\": \"From the case above, Marigold\u2019s cost of equity, using the expanded CAPM, is closest to:\\n\\nA. 27%.\\nB. 24%.\\nC. 6%.\",\n    \"answerCount\": 3,\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"27%. The expanded CAPM includes beta-adjusted equity risk premium plus size, industry, and country risk premiums, giving an estimate of approximately 26.8%, rounded to 27%.\",\n      \"upvoteCount\": 0,\n      \"commentCount\": 0\n    },\n    \"suggestedAnswer\": [\n      {\n        \"@type\": \"Answer\",\n        \"text\": \"24%. This corresponds to a build-up approach excluding beta adjustment.\",\n        \"upvoteCount\": 0,\n        \"commentCount\": 0\n      },\n      {\n        \"@type\": \"Answer\",\n        \"text\": \"6%. This is the risk-free rate and does not reflect risk adjustments.\",\n        \"upvoteCount\": 0,\n        \"commentCount\": 0\n      }\n    ]\n  }\n}\n<\/script><br \/>\n<iframe loading=\"lazy\" src=\"\/\/www.youtube.com\/embed\/0Odnj2PpwSc\" width=\"611\" height=\"343\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Jackie Zhao is an analyst at Momentum Capital. She has been tasked with evaluating Marigold\u2019s WACC, a company the management is looking to acquire. Marigold operates in the agriculture sector, manufacturing farm equipment such as tractors and combined harvesters. She gathers information about Marigold and publicly traded agricultural equipment manufacturers presented in Exhibit 1.<\/p>\n<div style=\"margin: 18px 0;\"><a style=\"display: block; text-align: center; padding: 14px 18px; border: 2px solid #2F5BFF; border-radius: 18px; color: #ffffff ; font-weight: 600; font-size: 16px; text-decoration: none; background-color: #1a73e8 ;\" href=\"https:\/\/analystprep.com\/free-trial\/\" target=\"_blank\" rel=\"noopener noreferrer\">Practice CFA Level 2 capital structure and cost of capital concepts with our Free Trial <\/a><\/div>\n<p>$$ \\textbf{Exhibit 1: Information on Marigold and Peer Companies} \\\\ \\begin{array}{l|c|c} &amp; \\textbf{Marigold} &amp; {\\textbf{Agricultural Equipment} \\\\ \\textbf{Manufacturers&#8217; Average} } \\\\ \\hline { \\textbf{Commons Size} \\\\ \\textbf{Balance sheet} } &amp; &amp; \\\\ \\hline \\text{Accounts receivables} &amp; 9\\% &amp; 10\\% \\\\ \\hline \\text{Inventory} &amp; 5\\% &amp; 4\\% \\\\ \\hline \\text{Cash and cash equivalents} &amp; 12\\% &amp; 14\\% \\\\ \\hline \\text{Other current assets} &amp; 6\\% &amp; 5\\% \\\\ \\\\ \\text{PPE (net)} &amp; 24\\% &amp; 26\\% \\\\ \\hline {\\text{Goodwill and} \\\\ \\text{intangible assets}} &amp; 20\\% &amp; 29\\% \\\\ \\hline \\text{Other assets} &amp; 4\\% &amp; 4\\% \\\\ \\\\ \\textbf{Other Information} &amp; &amp; \\\\ \\hline \\text{Debt (millions)} &amp; 20.4 &amp; 312 \\\\ \\hline \\text{Assets (millions)} &amp; 100 &amp; 1376 \\\\ \\hline \\text{EBITDA (millions)} &amp; 9.6 &amp; 104 \\\\ \\hline \\text{Marginal tax rate} &amp; 20\\% &amp; 22\\% \\\\ \\hline \\text{Interest expense (millions)} &amp; 1.3 &amp; 24 \\\\ \\hline \\text{Beta} &amp; N\/A &amp; 1.36 \\end{array} $$<\/p>\n<p><em><strong>Notes:<\/strong><\/em><\/p>\n<ul>\n<li>40% of the company\u2019s revenue comes from spare part sales, and 6 customers in the same geographic location contribute 60% of revenues.<\/li>\n<li>The company is family-owned, with the founder heavily involved in its operations.<\/li>\n<\/ul>\n<p>Zhao relies on an internally developed synthetic bond yield schedule to estimate the company\u2019s cost of debt.<\/p>\n<p>$$ \\textbf{Exhibit 2: Synthetic Credit Rating Schedule} \\\\ \\begin{array}{c|c|c|c} \\textbf{Credit Rating} &amp; \\textbf{Credit Spread} &amp; \\textbf{IC} &amp; \\textbf{D\/E} \\\\ \\hline AAA &amp; 0.7\\% &amp; IC &gt; 10\\text{times} &amp; D\/E &lt; 15\\% \\\\ \\hline AA &amp; 1.2\\% &amp; 9 &lt; IC &lt; 10 &amp; 15\\% &lt; D\/E &lt; 20\\% \\\\ \\hline A &amp; 1.5\\% &amp; 7 &lt; IC &lt; 9 &amp; 20\\% &lt; D\/E &lt; 25\\% \\\\ \\hline BBB &amp; 2.2\\% &amp; 5 &lt; IC &lt; 7 &amp; 25\\% &lt; D\/E &lt; 30\\% \\\\ \\hline BB &amp; 3\\% &amp; 4 &lt; IC &lt; 1.6 &amp; 30\\% &lt; D\/E &lt; 40\\% \\end{array} $$<\/p>\n<p>The YTM on a 10-year benchmark government bond for emerging market countries is 6%. Zhao estimates Marigold\u2019s cost of debt by estimating a synthetic bond yield on the company\u2019s 10-year non-traded bonds. Further, she uses the build-up approach and CAPM to estimate Marigold&#8217;s equity cost. Finally, Zhao assigns the following risk premiums<\/p>\n<ul>\n<li>Size premium (SP): 7%.<\/li>\n<li>Equity risk premium (ERP): 5%.<\/li>\n<li>Industry premium (IP): 1%.<\/li>\n<li>Specific-company risk premium (SCRP): 6%.<\/li>\n<li>Country risk premium (CRP): 2%.<\/li>\n<\/ul>\n<p>To estimate Marigold\u2019s WACC, Zhao assumes Marigold\u2019s current capital structure is its target capital structure.<\/p>\n<blockquote>\n<h2>Question<\/h2>\n<p>From the case above, Marigold\u2019s cost of equity, using the expanded CAPM, is <em>closest to<\/em>:<\/p>\n<ol type=\"A\">\n<li>27%.<\/li>\n<li>24%.<\/li>\n<li>6%.<\/li>\n<\/ol>\n<h4>Solution<\/h4>\n<p>The correct answer is<strong> A<\/strong>.<\/p>\n<p>$$ \\begin{align*} r_e &amp;=r_f+\\beta_{\\text{peer}}\\left(ERP\\right)+SP+IP+SCRP \\\\ r_e &amp; =6\\%+1.36\\left(5\\%\\right)+7\\%+1\\%+6\\% \\\\ r_e &amp;= 26.8\\% \\approx 27\\% \\end{align*} $$<\/p>\n<p><strong>B is incorrect<\/strong>. It uses the build-up approach.<\/p>\n<p>$$ \\begin{align*} r_e &amp; =r_f+ERP+SP+SCRP \\\\ r_e &amp; =6\\%+5\\%+7\\%+6\\% \\\\ r_e &amp; =24\\% \\end{align*} $$<\/p>\n<p><strong>C is incorrect<\/strong>. This is the risk-free rate.<\/p>\n<\/blockquote>\n<p>Reading 20: Cost of Capital: Advanced Topics<\/p>\n<p><em>LOS 20 (f) Evaluate a company\u2019s capital structure and cost of capital relative to peers.<\/em><\/p>\n<div style=\"text-align: center; margin: 30px 0;\"><a style=\"display: inline-flex; align-items: center; justify-content: center; padding: 12px 26px; border-radius: 9999px; background: #1e5bd8; color: #ffffff; font-weight: bold; text-decoration: none;\" href=\"https:\/\/analystprep.com\/free-trial\/\" target=\"_blank\" rel=\"noopener noreferrer\"> Start Free Trial \u2192 <\/a> <\/p>\n<p style=\"margin-top: 12px; font-size: 16px; line-height: 1.5;\">Strengthen your understanding of capital structure decisions and cost of capital comparisons in CFA Level 2 Corporate Finance with study notes, practice questions, and mock exams. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jackie Zhao is an analyst at Momentum Capital. She has been tasked with evaluating Marigold\u2019s WACC, a company the management is looking to acquire. Marigold operates in the agriculture sector, manufacturing farm equipment such as tractors and combined harvesters. She&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[102,345],"tags":[],"class_list":["post-29538","post","type-post","status-publish","format-standard","hentry","category-cfa-level-2","category-corporate-finance","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Capital Structure &amp; Cost of Capital vs Peers<\/title>\n<meta name=\"description\" content=\"Learn how to compare capital structure and cost of capital across peers, including risk premiums and key factors in cost of equity estimation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Structure &amp; Cost of Capital vs Peers\" \/>\n<meta property=\"og:description\" content=\"Learn how to compare capital structure and cost of capital across peers, including risk premiums and key factors in cost of equity estimation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/\" \/>\n<meta property=\"og:site_name\" content=\"CFA, FRM, and Actuarial Exams Study Notes\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-31T18:57:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-19T19:57:28+00:00\" \/>\n<meta name=\"author\" content=\"Nicolas Joyce\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nicolas Joyce\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/\"},\"author\":{\"name\":\"Nicolas Joyce\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#\\\/schema\\\/person\\\/393e8b0a7757cde1d197fb0c060af25f\"},\"headline\":\"Capital Structure and Cost of Capital Relative to Peers\",\"datePublished\":\"2022-12-31T18:57:24+00:00\",\"dateModified\":\"2026-06-19T19:57:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/\"},\"wordCount\":562,\"articleSection\":[\"CFA Level II Study Notes\",\"Corporate Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/\",\"url\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/\",\"name\":\"Capital Structure & Cost of Capital vs Peers\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#website\"},\"datePublished\":\"2022-12-31T18:57:24+00:00\",\"dateModified\":\"2026-06-19T19:57:28+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#\\\/schema\\\/person\\\/393e8b0a7757cde1d197fb0c060af25f\"},\"description\":\"Learn how to compare capital structure and cost of capital across peers, including risk premiums and key factors in cost of equity estimation.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/corporate-finance\\\/capital-structure-and-cost-of-capital-relative-to-peers\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Capital Structure and Cost of Capital Relative to Peers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#website\",\"url\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/\",\"name\":\"CFA, FRM, and Actuarial Exams Study Notes\",\"description\":\"Question Bank and Study Notes for the CFA, FRM, and Actuarial exams\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/#\\\/schema\\\/person\\\/393e8b0a7757cde1d197fb0c060af25f\",\"name\":\"Nicolas Joyce\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g\",\"caption\":\"Nicolas Joyce\"},\"url\":\"https:\\\/\\\/analystprep.com\\\/study-notes\\\/author\\\/kajal\\\/\"}]}<\/script>\n<meta property=\"og:video\" content=\"https:\/\/www.youtube.com\/embed\/0Odnj2PpwSc\" \/>\n<meta property=\"og:video:type\" content=\"text\/html\" \/>\n<meta property=\"og:video:duration\" content=\"3649\" \/>\n<meta property=\"og:video:width\" content=\"480\" \/>\n<meta property=\"og:video:height\" content=\"270\" \/>\n<meta property=\"ya:ovs:adult\" content=\"false\" \/>\n<meta property=\"ya:ovs:upload_date\" content=\"2022-12-31T18:57:24+00:00\" \/>\n<meta property=\"ya:ovs:allow_embed\" content=\"true\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Capital Structure & Cost of Capital vs Peers","description":"Learn how to compare capital structure and cost of capital across peers, including risk premiums and key factors in cost of equity estimation.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/","og_locale":"en_US","og_type":"article","og_title":"Capital Structure & Cost of Capital vs Peers","og_description":"Learn how to compare capital structure and cost of capital across peers, including risk premiums and key factors in cost of equity estimation.","og_url":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/","og_site_name":"CFA, FRM, and Actuarial Exams Study Notes","article_published_time":"2022-12-31T18:57:24+00:00","article_modified_time":"2026-06-19T19:57:28+00:00","author":"Nicolas Joyce","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Nicolas Joyce","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/#article","isPartOf":{"@id":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/"},"author":{"name":"Nicolas Joyce","@id":"https:\/\/analystprep.com\/study-notes\/#\/schema\/person\/393e8b0a7757cde1d197fb0c060af25f"},"headline":"Capital Structure and Cost of Capital Relative to Peers","datePublished":"2022-12-31T18:57:24+00:00","dateModified":"2026-06-19T19:57:28+00:00","mainEntityOfPage":{"@id":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/"},"wordCount":562,"articleSection":["CFA Level II Study Notes","Corporate Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/","url":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/","name":"Capital Structure & Cost of Capital vs Peers","isPartOf":{"@id":"https:\/\/analystprep.com\/study-notes\/#website"},"datePublished":"2022-12-31T18:57:24+00:00","dateModified":"2026-06-19T19:57:28+00:00","author":{"@id":"https:\/\/analystprep.com\/study-notes\/#\/schema\/person\/393e8b0a7757cde1d197fb0c060af25f"},"description":"Learn how to compare capital structure and cost of capital across peers, including risk premiums and key factors in cost of equity estimation.","breadcrumb":{"@id":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/analystprep.com\/study-notes\/corporate-finance\/capital-structure-and-cost-of-capital-relative-to-peers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/analystprep.com\/study-notes\/"},{"@type":"ListItem","position":2,"name":"Capital Structure and Cost of Capital Relative to Peers"}]},{"@type":"WebSite","@id":"https:\/\/analystprep.com\/study-notes\/#website","url":"https:\/\/analystprep.com\/study-notes\/","name":"CFA, FRM, and Actuarial Exams Study Notes","description":"Question Bank and Study Notes for the CFA, FRM, and Actuarial exams","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/analystprep.com\/study-notes\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/analystprep.com\/study-notes\/#\/schema\/person\/393e8b0a7757cde1d197fb0c060af25f","name":"Nicolas Joyce","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/684508c19e959bb01da12a9dc741428f559e4e5df43fc41ed68efa7f2d3b2b9d?s=96&d=mm&r=g","caption":"Nicolas Joyce"},"url":"https:\/\/analystprep.com\/study-notes\/author\/kajal\/"}]},"og_video":"https:\/\/www.youtube.com\/embed\/0Odnj2PpwSc","og_video_type":"text\/html","og_video_duration":"3649","og_video_width":"480","og_video_height":"270","ya_ovs_adult":"false","ya_ovs_upload_date":"2022-12-31T18:57:24+00:00","ya_ovs_allow_embed":"true"},"_links":{"self":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts\/29538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/comments?post=29538"}],"version-history":[{"count":18,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts\/29538\/revisions"}],"predecessor-version":[{"id":44195,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/posts\/29538\/revisions\/44195"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/media?parent=29538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/categories?post=29538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/study-notes\/wp-json\/wp\/v2\/tags?post=29538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}