wɪð jˈiːld ɛksˈiːdɪŋ twˈɛnti pɚsˈɛnt pɜːɹ ˈænəm, ðɪ ɐkwˈaɪɚɹɚ hɐz təbi vˈɛɹi dˈɪlɪdʒənt ɪn ɐsˈɛsɪŋ wˈɛðɚ ðə kˈɔst əvə pˌiːˌaɪkˈeɪ dʌznˌɑːt ɛksˈiːd ðɪ ɪntˈɜːnəl ɹˈeɪt ʌv ɹᵻtˈɜːn ʌv ˈɛkwᵻɾi ɪnvˈɛstmənt.
With yield exceeding 20% per annum, the acquirer has to be very diligent in assessing whether the cost of a PIK does not exceed the internal rate of return of equity investment.