Professional Documents
Culture Documents
1
2
3
4
5
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7
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10
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2
3
4
5
6
7
8
9
10
dep old
11666.66667
7777.777778
5185.185185
3456.790123
2304.526749
1536.351166
1024.234111
682.8227404
455.2151603
303.4767735
-450000
170866.6667
94811.11111
79440.74074
69193.82716
62362.55144
57808.36763
54772.24508
52748.16339
51398.77559
75499.18373
14.20%
dts old
5833.333
3888.889
2592.593
1728.395
1152.263
768.1756
512.1171
341.4114
227.6076
151.7384
dep new
150000
100000
66666.67
44444.44
29629.63
19753.09
13168.72
8779.15
5852.766
3901.844
sv
inves. Allow tax Old
New
Net sv
total cash flow PVF(13.41%)
45,000
0
40,000
40,000
170,867
0.881756459
0
0
0
0
94,811
0.777563015
0
0
0
0
79,441
0.685681671
0
0
0
0
69,194
0.604657558
0
0
0
0
62,363
0.533207723
0
0
0
0
57,808
0.470200814
0
0
0
0
54,772
0.414639166
0
0
0
0
52,748
0.365643003
0
0
0
0
51,399
0.322436511
0
15,000
40,000
25,000
75,499
0.284335548
NET PV
Investment
INCRE CASH FLOW
PV(CV)
150662.7869
73721.6134
54471.05985
41838.57057
33252.19407
27181.54152
22710.71802
19286.99689
16572.84187
21467.10175
461165.4249
450,000
11,165
PV(CV)
149620.5487
72698.7642
53339.01278
40682.06007
32106.5289
26061.18041
21622.0972
18233.85561
15558.14584
20011.57252
449933.7663
450,000
-66
npv
years
IRR
dep old
dts old
dep new
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
8.75
6.5625
4.921875
3.69140625
2.768554688
2.076416016
1.557312012
1.167984009
0.875988007
0.656991005
0.492743254
0.36955744
0.27716808
0.20787606
0.155907045
3.0625
2.296875
1.72265625
1.291992188
0.968994141
0.726745605
0.545059204
0.408794403
0.306595802
0.229946852
0.172460139
0.129345104
0.097008828
0.072756621
0.054567466
2010
-85
-85
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
33.11550781
16.68713086
15.44034814
14.50526111
11.80394583
13.27795937
12.88346953
1259%
12.36570161
12.19927621
12.07445716
18.48084287
18%
26.11550781
16.68713086
15.44034814
14.50526111
11.80394583
13.27795937
12.88346953
12.58760215
12.36570161
12.19927621
12.07445716
18.48084287
16%
22.69
17.0175
12.763125
9.57234375
7.179257813
5.384443359
4.03833252
3.02874939
2.271562042
1.703671532
1.277753649
0.958315237
87.88505429
dts new
0
0
0
7.9415
5.956125
4.46709375
3.350320313
2.512740234
1.884555176
1.413416382
1.060062286
0.795046715
0.596285036
0.447213777
0.335410333
30.759769
deffirence of dts
-3.0625
-2.296875
-1.72265625
6.649507813
4.987130859
3.740348145
2.805261108
2.103945831
1.577959373
1.18346953
0.887602148
0.665701611
0.499276208
0.374457156
0.280842867
includin the ef
suppose of total revenue
years
IRR
dep old
dts old
8.8
10.92
19.656
18
1.656
0.092
dep new
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
8.75
6.5625
4.921875
3.69140625
2.768554688
2.076416016
1.557312012
1.167984009
0.875988007
0.656991005
0.492743254
0.36955744
0.27716808
0.20787606
0.155907045
3.0625
2.296875
1.72265625
1.291992188
0.968994141
0.726745605
0.545059204
0.408794403
0.306595802
0.229946852
0.172460139
0.129345104
0.097008828
0.072756621
0.054567466
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
-85.2
34.19190781
18.93895966
18.97574519
19.44231469
18.27160834
21.41704683
22.84775303
24.54499973
26.49957978
28.70987116
31.18042685
40.42096177
27%
-85.2
27.19190781
18.93895966
18.97574519
19.44231469
18.27160834
21.41704683
22.84775303
24.54499973
26.49957978
28.70987116
31.18042685
40.42096177
25%
22.69
17.0175
12.763125
9.57234375
7.179257813
5.384443359
4.03833252
3.02874939
2.271562042
1.703671532
1.277753649
0.958315237
87.88505429
24.64
30.576
dts new
0
0
0
7.9415
5.956125
4.46709375
3.350320313
2.512740234
1.884555176
1.413416382
1.060062286
0.795046715
0.596285036
0.447213777
0.335410333
30.759769
deffirence of dts
-3.0625
-2.296875
-1.72265625
6.649507813
4.987130859
3.740348145
2.805261108
2.103945831
1.577959373
1.18346953
0.887602148
0.665701611
0.499276208
0.374457156
0.280842867
dep old
dts old
dep new
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
8.75
6.5625
4.921875
3.69140625
2.768554688
2.076416016
1.557312012
1.167984009
0.875988007
0.656991005
0.492743254
0.36955744
0.27716808
3.0625
2.296875
1.72265625
1.291992188
0.968994141
0.726745605
0.545059204
0.408794403
0.306595802
0.229946852
0.172460139
0.129345104
0.097008828
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
-25
8.633307813
6.290865459
6.308657578
6.468328447
4.747870443
7.132016358
7.610668239
8.177729499
8.830240449
12.56774245
26%
-25
6.445807813
6.290865459
6.308657578
6.468328447
4.747870443
7.132016358
7.610668239
8.177729499
8.830240449
12.56774245
24%
9.94
7.455
5.59125
4.1934375
3.145078125
2.358808594
1.769106445
1.326829834
0.995122375
0.746341782
87.88505429
dts new
0
0
0
3.479
2.60925
1.9569375
1.467703125
1.100777344
0.825583008
0.619187256
0.464390442
0.348292831
0.261219624
30.759769
deffirence of dts
-3.0625
-2.296875
-1.72265625
2.187007813
1.640255859
1.230191895
0.922643921
0.691982941
0.518987206
0.389240404
0.291930303
0.218947727
0.164210795
IATS
Old
11.7
11.7
11.7
11.7
11.7
11.7
11.7
11.7
11.7
11.7
11.7
11.7
7
0
0
0
0
0
0
0
0
0
0
0
New
0
0
0
0
0
0
0
2
0
0
0
0
0
0
0
Net sv
0
0
0
7.766
0
0
0
0
0
0
0
0
0
0
6.5
0
0
0
7.766
0
0
0
-2
0
0
0
0
0
0
6.5
28
10
Old
7
0
0
0
0
0
0
0
0
0
0
0
New
0
0
0
0
0
0
0
2
0
0
0
0
0
0
0
Net sv
0
0
0
7.766
0
0
0
0
0
0
0
0
0
0
6.5
0
0
0
7.766
0
0
0
-2
0
0
0
0
0
0
6.5
4.2588
4.6506096
5.078465683
5.545684526
6.055887502
6.613029153
7.221427835
7.885799196
8.611292722
9.403531652
IATS
Old
2.1875
0
0
0
0
0
0
0
0
0
New
0
0
0
0
0
0
0
2
0
0
0
0
0
Net sv
0
0
0
0
0
0
0
0
0
0
0
0
3
0
0
0
0
0
0
0
-2
0
0
0
0
3
PVF(16%)
0.862068966
0.743162901
0.640657674
0.552291098
0.476113015
0.410442255
0.35382953
0.305025457
0.26295298
0.226683603
0.1954169
0.168462844
PVCash Flow
Investment
INCRE CASH FLOW
PV(CV)
0
0
0
28.54785156
12.40125658
9.891977521
8.011126583
5.620012244
5.449835583
4.558551967
3.839539095
3.251598088
2.76537589
2.359552981
3.113335357
89.81001345
85
5
PV(CV)
0
0
0
22.5133688
12.40125658
9.891977521
8.011126583
5.620012244
5.449835583
4.558551967
3.839539095
3.251598088
2.76537589
2.359552981
3.113335357
83.7755307
80
3.775530696
PVF(16%)
PV(CV)
0.862068966
0.743162901
0.640657674
0.552291098
0.476113015
0.410442255
0.35382953
0.305025457
0.26295298
0.226683603
0.1954169
0.168462844
PVCash Flow
Investment
0
0
0
29.4757826
14.07473221
12.15695677
10.73781732
8.699350543
8.79046099
8.084209715
7.486849756
6.968143471
6.50805705
6.09318234
6.809430194
125.884973
85.2
40.68497296
f fuels
PV(CV)
0
0
0
23.44129984
14.07473221
12.15695677
10.73781732
8.699350543
8.79046099
8.084209715
7.486849756
6.968143471
6.50805705
6.09318234
6.809430194
119.8504902
85.2
34.6504902
f fuels
PVF(20%)
PV(CV)
0.833333333
0.694444444
0.578703704
0.482253086
0.401877572
0.334897977
0.279081647
0.232568039
0.193806699
0.161505583
PVCash Flow
Investment
0
0
0
7.194423177
4.368656569
3.650843506
3.119371358
1.908062646
2.388497848
2.123997829
1.901878516
1.711359757
2.02976057
30.39685177
25
5.396851774
PV(CV)
0
0
0
5.37150651
4.368656569
3.650843506
3.119371358
1.908062646
2.388497848
2.123997829
1.901878516
1.711359757
2.02976057
28.57393511
25
3.573935108
years
dep buy
1
2
3
4
5
6
7
8
DTS
18.75
14.0625
10.546875
7.91015625
5.932617188
4.449462891
3.337097168
2.502822876
67.49153137
7.508468628
6.5625
4.921875
3.69140625
2.768554688
2.076416016
1.557312012
1.167984009
0.875988007
buying machine
NCF after debt/ATCs
Net sv
total cash flow
11.7
0
18.2625
11.7
0
16.621875
11.7
0
15.39140625
11.7
0
14.46855469
11.7
0
13.77641602
11.7
0
13.25731201
11.7
0
12.86798401
11.7
6.525
19.10098801
Lease
year
Cost of rent
Main
0
1
2
3
4
5
6
7
8
-14
-14
-14
-14
-14
-14
-14
-14
0
0
1
2
3
4
5
6
7
8
-75
56.625
-18.375
-18.375
-18.375
-18.375
-18.375
-18.375
-18.375
0
26.0221%
Total
0
-1.75
-1.75
-1.75
-1.75
-1.75
-1.75
-1.75
-1.75
ATCS
-14
-15.75
-15.75
-15.75
-15.75
-15.75
-15.75
-15.75
-1.75
NCF
-9.1
-10.2375
-10.2375
-10.2375
-10.2375
-10.2375
-10.2375
-10.2375
-1.1375
0
11.7
11.7
11.7
11.7
11.7
11.7
11.7
11.7
Hiring
IRR
IRR
Years
DTS
0
1
2
installment
DIC
0
-18.375
6.5625
-18.375
4.921875
-18.375
Period
Install
1
2
3
4
5
6
7
Sv
-11.94375
-11.94375
-11.94375
18.375
18.375
18.375
18.375
18.375
18.375
18.375
NCF
0
0
0
0
11.7
11.7
3
4
5
6
7
3.69140625
2.768554688
2.076416016
1.557312012
1.167984009
-18.375
-18.375
-18.375
-18.375
0
-11.94375
-11.94375
-11.94375
-11.94375
0
0
0
0
0
0
11.7
11.7
11.7
11.7
11.7
buying machine
PVF(9.5%)
0.913242009
0.834010967
0.761653851
0.695574293
0.635227665
0.580116589
0.52978684
0.483823598
PVF
Inves
NPV
PV(CV)
16.67808219
13.86282605
11.72292385
10.0639547
8.751160582
7.690786628
6.817288579
9.241508738
84.82853132 IRR
75
9.828531317
-75
18.2625
16.62188
15.39141
14.46855
13.77642
13.25731
12.86798
18.57599
13%
Lease
Total Cash Flow
-9.1
1.4625
1.4625
1.4625
1.4625
1.4625
1.4625
1.4625
10.5625
PVC
PV(CV)
1
0.913242009
0.834010967
0.761653851
0.695574293
0.635227665
0.580116589
0.52978684
0.483823598
PV(CV)
-9.1
1.335616438
1.21974104
1.113918758
1.017277404
0.92902046
0.848420512
0.774813253
5.110386751
3.249194616
Hiring
Interest
14.733825
13.78749584
12.59373161
11.08932506
9.19344055
6.804207371
3.793245908
Capital
Principal outstanding at the end
3.641175
52.983825
4.587504164
48.39632084
5.781268385
42.61505245
7.285674943
35.32937751
9.18155945
26.14781806
11.57079263
14.57702543
14.58175409
-0.004728663
interest
DIC
0
14.733825 5.15683875
13.78749584 4.825623542
PVC
PV(CV)
-18.375
1
-18.375
5.04433875 0.913242 4.606702
3.072498542 0.834011 2.562497
12.59373161 4.407806065
11.08932506 3.88126377
9.19344055 3.217704193
6.804207371 2.38147258
3.793245908 1.327636068
1.424212315
-0.025181542
-1.380879792
-2.736215409
14.19562008
0.761654 1.084757
0.695574 -0.01752
0.635228 -0.87717
0.580117 -1.58732
0.529787 7.520653
PV(CV)
-5.0824
prob
a
b
c
d
r1
0.1
0.4
0.3
0.2
r2
5
7
-4
15
r1*prob
-1
6
2
20
0.5
2.8
-1.2
3
5.1
r1*prob r1-mean of r1
-0.1
-0.1
2.4
1.9
0.6
-9.1
4
9.9
6.9
2.6
correlation
0.752854667
0.824018105
0.939923954
Covareince
38.71