问题如下:
Jackie, CFA, is evaluating the effects of changes in the capital budgeting assumptions. After his revaluation, he estimates that the initial fixed capital outlay will be $12 million rather than $10 million. The required rate of return is 10% and the tax rate is 25%. The project`s life is five years. What will happen on the project’s NPV if everything else hold constant?
选项:
A.It will decrease $0.48 million
B.It will decrease $1.62 million.
C.It will increase $1.62 million.
解释:
B is correct.
考点:Cash Flow Projections: Expansion Project
解析:△Depreciation = $400,000
△FC= -2 → △CF=D*T=0.4*0.25=0.1
计算器: CF0=-2 →, CF1=0.1, F01=5, I=10, CPT→NPV=-1.62
我是直接这样相当于都用△算的得出来的数, 这样可以么?