NO.PZ2018101501000015
问题如下:
Company M`s management is evaluating the optimal service life of an equipment. In order to make the analysis, managers have estimated the investment outlay, annual after-tax operating cash flow and after-tax salvage for each scenario. Assuming a 15% annual discount rate, what`s the optimal service life?
选项: both 2 years and 4 years
2 years
C.4 years
解释:
B is correct.
考点:Mutually Exclusive Projects with Different Lives
解析:在选择不同期限的互斥项目时,我们可以使用EAA法。先计算出每一个项目的NPV,再根据算出来的NPV来计算PMT,从而挑选一个能给我们带来等效年金最大的项目。
NPV2 = -10,000 + + = 3,648.39
PV = -3,648.39 , N=2 , I/Y=15 , FV=0 CPT→PMT2 = 2,244.18
NPV4 = -10,000 + + + + = 4,784.75
PV = -4,784.75 , N=4 , I/Y=15 , FV=0 CPT→PMT4 = 1,675.93
根据计算结果,我们应该选择2年的使用年限。
老师好,请问如何判断NPV代入PV时候的正负号呀?关于PMT绝对值取大还是取小,是不是表格中说cash flow就取绝对值大的,说cost就取绝对值小的,不用管NPV是流入还是流出呢?