2010 2011 2012 2013 2014

Cap Investment 2200

Acc. Depr 440 880 1320 1760
Book Value 1760 1320 880 440
Working Capital 5648.4 7322 7322 2876.5
Sales 21600 28000 28000 11000
COGS 17064 22120 22120 8690
SG&A 1728 2240 2240 880
Advertising 300
Depreciation 440 440 440 440
PreTax Profit 2508 3640 3640 1430
Tax 1003.2 1456 1456 572
PAT 1504.8 2184 2184 858

CF Analysis
Cap Inv -2200
Change in WC -5648.4 -1673.6 0 4445.5
Sales 21600 28000 28000 11000
COGS 17064 22120 22120 8690
SG&A 1728 2240 2240 880
Advertising 300
Tax 1003.2 1456 1456 572
Operating CF 1944.8 2624 2624 1298
Net CF -2200 -3703.6 950.4 2624 5743.5
PV @ 10.05 -2200 -3665.116 930.7516 2543.05 5508.475
NPV 5394.084
 2015

2200
0
1307.5
5000
3950
400

440
650
260
390

1569
5000
3950
400

260
830
2399
2276.925