. 1 40 . . 15000. 1 .28., Cconst-100..,2 .,-16 ., 250.. Pit 2 .
: S*=40, Q=15 000., 1 C*var= 28. Cconst=100000
2
Cvar=16.
Cconst=250000
: Pit=S-Cvar-Cconst
1. Pit=15000(40-28)-100000=80 000 .
2. Pit=15000(40-16)-250000=110 000 .
: 2 , .. 110 000 .
. 2 40 . . 15000. 1 .28., Cconst-100..,2 .,-16 ., -250.. . ..
: S*=40,, Q=15 000.,
1
C*var= 28.
Cconst=100000..
2
Cvar=16.
Cconst=250000.
: Pit BL2
1. BL2 =2,25
2. BL2 =3,27
: .
. 3 : BL2 2- .
: S= 40000., Cvar=31000, Cconst=3000.
: . Srent =13333 .
. const 50% = Srent = 20 000.
: 13333, Cconst(.) 20000, .. .
. 5 .
- | - | - ,% | |
: | 0,33 | 18,00 | |
0,11 | 20,0 | ||
,,, | ,,, | ,,, | ,,, |
1,00 | 22,19 |
wacc=∑Kj*dj., Kj-- ., dj-
wacc=(18*0,33)+(20*0,11) = 5,94+ 2,2+.=22,19
̹4 : ? : = 20 .., . . -3 .. - =20%., t=16%., ⌂()=10 .., ⌂ .=2. : 1. .⌂ =10., 1=20+10-30 .., .=3+2=5..,.=5*0,8=4.. ROE=Pn:E*100=4:30*100=13,33%
2. - ., ⌂L=10 ., ∑%-:10*0,16=1,6 ..,. .= 5-1,6=3,4 .., Pn=3,4*(1-0,2)= 2,72 .., ROE *100 = 13,6% . . ..: ROE, .
.1) 18 ., 15 . . ? . . . -/=18-15/18*100=16,7%. . *100/100-=16,7*100/100-16,7=20% . . 16,7%, .. 20%.
..2) 2%(.. . 100 ) 30 . . 20 . ( 15 .) . . .=30*100/1000*1,02-30=0,03. 2,02% ...=20*100/1000*1,02-30=2,02. 1,51% .. = 15*100/1000*1,02-30=1,51% . 2,02% . ;1,51% ..
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.,3) . . 10% .. 220 . . (, ..) 4 . . 70% 50%.. . 8 . .. . .. . 8-8*0,1*0,3=7,76., . . 220+4*0,5=222; . . 7,76*222=17723. 1584 . (8*0,9*220=1584) : 1772,3/1584*100=111,9%. 111,9%
.4) 12 % - 600 . . 7% . . 35%. .. . =600*12/100-600*7/100=30., =30/600-30*35=1,84% . . 1,84%.
1. . , .
1 | 2 | |
, . . | ||
, . . | ||
, . . | ||
, . . | ||
, . . |
. , , 20%.
, .
ROI=Pr/I ( / )
Pr=--
PR=I0/P ( / (Pr+))
1
Pr=2280 1980 20 = 280
ROI=280/516=0,54 ( 0,54 )
PR=516/(280+60)=1,5
2
Pr=2300 2070 20 = 210
ROI=210/510=0,41
PR=510/(210+50)=2
, .
2. , .
1 | 2 | |
, . . | ||
, . .: | ||
1- | ||
2- | ||
3- |
20% .
|
|
. ?
NPV =
NPV > 0
NPV = 0 ,
NPV< 0
, 3 , , :
NPV = - I + + +
1
NPV = - 980 + 210/(1+0,2)1 + 170/(1+0,2)2 + 340/(1+0,2)3= -490,18
2
NPV = - 850 + 270/(1+0,2)1 + 225/(1+0,2)2 + 300/(1+0,2)3= -295,14
PI = :
1
PI = (210/(1+0,2)1 + 170/(1+0,2)2 + 340/(1+0,2)3) / 980 = (175+118+197)/580=0,5
2
PI = (270/(1+0,2)1 + 225/(1+0,2)2 + 300/(1+0,2)3) / 850 = (225+156+173)/850=0,65
. 1
: :
1) 400
2) 240 .
3) 150 ./
4) 23000 .
. . .
:
1. , 10%
2. , 6% 10 /.
.=
= Q(-.)-.= 13000.
1) 10% (240*0,9=216 .)
Q=(+..)/(-..)=545 .
2) 6% (240*0,94=225,6 .)
10 /.(150-10=140 .)
Q=(+..)/(-..)=421 .
. 2
:
170 ./. - 200. 240.
12%.
7%
250 . Q= 192 .
:
1. ,
2.
1. = 200(240-170)=14000.
2. 170*1,12=194 ./
Q=240*1,07=256,8 ./.
=((Q1-Q)/(..1-..))*../Q=((192-200)/(250-240))*240/200=|-0,96|=0,96
: 1-.
. 3
:
= 205 ./. - Q=700 255 ./.
8%. =1,4
:
1) , .
2) ( ) .
:
1. = Q(-.)=700(255-205)=35000.
Q=35000/(275,4-205)=497 .
2. =((Q1-Q)/(1-))*(/Q)
Q1=((*Q(1-))/)+700=622 .
= 622
= Q(-)=622(275,4-205)=43789 .
. 4
:
: 1000 /.
=20%
10% -
20%
:
1)
2)
3)
:
1) = ++=1000+1000*0,2 + ((1000+1000*0,2*18)/100)=1416 . .. 216.
2) = +0,1(-)= 1536 . .. 234,3.
3) = +0,2 (-)=1536+0,2(1536-234,3)=1796,34 .
,
. 5
480 . 1200 . :
- -900.
- 110..
550 . . 6 .. .
|
|
:
1) , .
2) 5%
:
1. : =Q(-)- = 480000(1200-900)-110000000=34..
, :
=((+)/Q)+=((34+110+6)* )/(5,5* )+900=1173.
= 1172,73-1200=-27,27
2.= (((34*1,05+116)* )/(5,5* ))+900=117,6 .