开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

Pina · 2020年11月08日

问一道题:NO.PZ201601200500001101

* 问题详情,请 查看题干

问题如下:

1. Economic income during year one is closest to:

选项:

A.

23,186.

B.

29,287.

C.

46,101.

解释:

Economic income = Cash flow – Economic depreciation

Economic income (Year 1) = C F 1 −( V 0 − V 1 ) After-tax operating cash flow (CF) = (S – C – D)(1 – T) + D + After-tax salvage = EBIT(1 – T) + D + After-tax salvage

CF1 = 58,000

V0=58,000/1.12+64,000/1.12^2+70,000/1.12^3+76,000/1.12^4+76,000/1.12^5=244,054.55

V 1 = 64,000/1.12 + 70,000/1.12^2 + 76,000 /1.12^3 + 76,000/1.12^4 =215,341.10

Economic income (Year 1) = 58,000 – (244,054.55– 215,341.10)

Economic income (Year 1) = 58,000 – 28,713.45 = 29,286.55

老师好 为什么Year 5 的CF 里还要加 after tax salvage value? 不是ocf 的公式是 = EBIT(1-T)+DEP 没有要加 after tax salvage value. 谢谢。

1 个答案
已采纳答案

王琛_品职助教 · 2020年11月08日

- 关于这个问题,我之前总结过,请参考:https://class.pzacademy.com/qa/57104/