netpresentvalueandotherinvestmentcriteria(英文版)(編輯修改稿)
2025-01-31 16:53 本頁面
【文章內(nèi)容簡介】 HillPayback MethodExampleThe three project below are available. The pany accepts all projects with a 2 year or less payback period. Show how this decision will impact our decision.Cash FlowsPrj. C0 C1 C2 C3 Payback NPV10%A 2023 +1000 +1000 +10000 2 +7,249B 2023 +1000 +1000 0 2 264C 2023 0 +2023 0 2 347169。The McGrawHill Companies, Inc.,20236 18Irwin/McGrawHillBook Rate of ReturnBook Rate of Return Average ine divided by average book value over project life. Also called accounting rate of return.Managers rarely use this measurement to make decisions. The ponents reflect tax and accounting figures, not market values or cash flows. 169。The McGrawHill Companies, Inc.,20236 19Irwin/McGrawHillProject InteractionsWhen you need to choose between mutually exclusive projects, the decision rule is simple. Calculate the NPV of each project, and, from those options that have a positive NPV, choose the one whose NPV is highest.169。The McGrawHill Companies, Inc.,20236 20Irwin/McGrawHillMutually Exclusive ProjectsExampleSelect one of the two following projects, based on highest NPV. Proj 0 1 2 3 4 NPVA 15 B 20 9 9 9 assume 9% discount rate169。The McGrawHill Companies, Inc.,20236 21Irwin/McGrawHillMutually Exclusive ProjectsExampleSelect one of the two following projects, based on highest NPV. Proj 0 1 2 3 4 NPVA 15 B 20 9 9 9 assume 9% discount rate169。The McGrawHill Companies, Inc.,20236 22Irwin/McGrawHillInvestment TimingSometimes you have the ability to defer an investment and select a time that is more ideal at which to make the investment decision. A mon example involves a tree farm. You may defer the harvesting of trees. By doing so, you defer the receipt of the cash flow, yet increase the cash flow.169。The McGrawHill Companies, Inc.,20236 23Irwin/McGrawHillInvestment TimingExampleYou may purchase a puter anytime within th
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