Documente Academic
Documente Profesional
Documente Cultură
New Machine
Year 1 Year 2
Sales 17000 17000
VC 8500 8500
Depreciation 4686 6390
EBIT 3814 2110
Tax 1525.6 844
Profit After Tax 2288.4 1266
Depreciation 4686 6390
Operating Cash Inflows 6974.4 7656
2074.4 2756
New Machine
Cost of New Machine 14200
Selling Price 2000
Tax 40%
Rate of Return 16%
Variable Costs (50% of sales) 50%
Sales 17000
ATSP 6880
Working Capital
Inventory(Increase) 1000
Account Receviable (Increase) 1500
Account Payable(Increase) 780
Net Working Capital -1720
Old Machine
Year 3 Year 4 Year 1
17000 17000 Sales 15000
8500 8500 VC 7500
2130 994 Depreciation 1000
6370 7506 EBIT 6500
2548 3002.4 Tax 2600
3822 4503.6 Profit After Tax 3900
2130 994 Depreciation 1000
5952 5497.6 Operating Cash Inflows 4900
1052 597.6
Depreciation Schedule
Year 1 33%
Year 2 45%
Year 3 15%
Year 4 7%
Old Machine
Year 2 Year 3 Year 4
15000 15000 15000
7500 7500 7500
1000 1000 1000
6500 6500 6500
2600 2600 2600
3900 3900 3900
1000 1000 1000
4900 4900 4900
NWC=CA-CL Outflow
ATSP= SP-T(SP-BV)
New 1 2 3
Sales 17000 17000 17000
FC
VC 8500 8500 8500
Dep
EBIT
TAX
NOPAT
DEP
OCF
Delta Tax
3686
5390
1130
-6
Delta(OCF) 1 2
OLD 1 2 3 Delta Sales 2000 2000
Sales 15000 15000 15000 Delta FC 7000 7000
FC Delta VC 1000 1000
VC 7500 7500 7500 Delta Dep 3686 5390
Dep Delta EBIT 6314 4610
EBIT Delta TAX 2525.6 1844
TAX Delta NOPAT 3788.4 2766
NOPAT Delta DEP 3686 5390
DEP Delta OCF 7474.4 8156
OCF
3
2000
7000
1000
1130
6870
2748
4122
1130
5252